Luxfer Group Completes Acquisition of Two U.S. Businesses
2014年7月31日 - 5:45AM
ビジネスワイヤ(英語)
Luxfer Holdings PLC (“Luxfer” or “Luxfer Group”) (NYSE:LXFR), a
global materials technology company, announced today that it has
completed the acquisition of the assets and businesses of Truetech
Inc. and Innotech Products Ltd., related private companies under
similar ownership, for an estimated payment of $64 million.
On June 13 Luxfer announced that it had entered into an
agreement to acquire these companies, subject to required
regulatory approvals, which have now been obtained.
Additional information about the acquisition is provided in
Luxfer’s second-quarter earnings release, now available, and during
the quarterly conference call scheduled for 8:30 a.m. EDT on
Thursday, July 31 (for a copy of the second-quarter release or call
details, visit www.luxfer.com).
Truetech and Innotech variously produce magnesium-based heating
pads for self-heating meals used by the U.S. military and emergency
relief agencies; an extensive line of self-heating meals and
beverages used by military and civilian end-users; and chemical and
biological agent detection and decontamination kits. The companies
operate from facilities in Riverhead, N.Y., and Cincinnati, Ohio,
employing 115 people. Sales revenue in 2013 was $28 million.
Luxfer will combine the businesses of Truetech and Innotech
within Luxfer Magtech Inc. (LMI), a new wholly-owned subsidiary of
Luxfer Group. LMI will operate as part of Luxfer Group’s specialty
materials Elektron Division.
Advisors to Luxfer on the acquisition included Fried, Frank,
Harris, Shriver & Jacobson LLP, Grant Thornton LLP, Ernst &
Young LLP, Environ International Corp. and Sripath Technologies
LLC. Advisors to the sellers included BDO Capital Advisors LLC, and
Lazer, Aptheker, Rosella & Yedid, P.C.
About Luxfer Group
Luxfer is a global materials technology company specializing in
the design and manufacture of high-performance materials,
components and gas-containment devices for environmental,
healthcare, protection and specialty end-markets. Luxfer customers
include both end-users of its products and manufacturers that
incorporate Luxfer products into finished goods. For more
information, visit www.luxfer.com.
Luxfer GroupDan Stracner,
+951-341-2375dan.stracner@luxfer.net
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