NEW ACQUISITION - BULROC (UK) LTD - STRENGTHENS ROBIT PLC'S DOWN-THE-HOLE BUSINESS AND ROBIT PLC'S FURTHER GROWTH
ROBIT PLC PRESS RELEASE 5 JULY 2016 AT 4.00 P.M.
NEW ACQUISITION - BULROC (UK) LTD - STRENGTHENS ROBIT PLC'S DOWN-THE-HOLE BUSINESS AND ROBIT PLC'S FURTHER GROWTH
Growth company Robit Plc acquired 100 % shares of Bulroc (UK) Ltd.
Bulroc (UK) Ltd is a leading supplier in the business of big Down-the-Hole hammer and related accessories. The company is focusing on this product segment and is especially known for its product performance and quality. Bulroc (UK) Ltd is based in Chesterfield, England. In addition, the company has a sales office in Hong Kong. Bulroc (UK) Ltd has altogether 46 employees.
Bulroc (UK) Ltd's turnover at the end of FY 9/2015 was 6,2 M£ (approximately 8,4 M€) with a profitability (EBITDA-%) of ab. 16 percent. The agreed debt free purchase price of Bulroc (UK) Ltd's was 10,1 M£ (approximately 13,3 M€), which was paid during Closing at this date.
Through this acquisition Robit Plc strengthens significantly its Down-the-Hole business area. Through the two simultaneous acquisitions - Bulroc (UK) Ltd and Drilling Tools Australia Pty Ltd (DTA) - Robit Plc becomes a remarkable global supplier in this Down-the-Hole business segment. It is notable that the two acquired companies' product ranges support each other.
These two acquisitions mean that Robit Plc continues its growth and its cumulative net sales will overcome
75 M€. The company looks for a further active growth in each three strategic business area: Down-the-Hole, Top Hammer and Digital Services.
The acquisition is an important part of Robit Plc's global growth strategy, which Robit Plc introduced in its listing to Nasdaq Helsinki Ltd's First North Finland marketplace in May 2015.
ROBIT PLC
Harri Sjöholm, Chairman
Mikko Mattila, CEO
Further information:
Robit Plc
Harri Sjöholm, Chairman
+358 400 622 092
Mikko Mattila, CEO
+358 40 736 7001
Skandinaviska Enskilda Banken AB (publ), Helsinki branch acts as the Company's Certified Advisor.
Tel. +358 9 616 28 101
Robit is a Finnish company selling and servicing global customers in drilling consumables for applications in tunneling, geothermal heating and cooling, construction, and mining industries. The company's business is divided into Top Hammer, Down the Hole and Digital Services business units. Robit has nine own offices and active sales networks in 115 countries and production in Finland, South Korea and Australia. The company is listed in Nasdaq Helsinki Ltd's First North Finland marketplace with trading code ROBIT. For more information, see www.robit.fi.
Distribution:
Nasdaq Helsinki Ltd
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