Hayward Tyler to Acquire Steam Turbine Manufacturer for $15 Million
2015年10月12日 - 3:45PM
Dow Jones News
LONDON--Hayward Tyler Group PLC (HAYT.LN), a supplier of
electric motors and pumps, said Monday that it will acquire U.K.
engineering business Peter Brotherhood for $15 million in cash.
The company is acquiring the business from Dresser-Rand Co.
Ltd., a unit of Siemens (SIE.XE). The acquisition consideration
will be funded through new 14 million pounds ($21.43 million) worth
of loan facilities from Royal Bank of Scotland.
Hayward Tyler expects the acquisition to be immediately earnings
enhancing in current financial year and significantly earnings
enhancing in the first full year of ownership.
Peter Brotherhood manufactures steam turbines, gas compressors
and combined heat and power units for the power generation, oil and
gas and marine markets. In 2014, it recorded adjusted operating
profit of $3.2 million.
Write to Tapan Panchal at tapan.panchal@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 12, 2015 02:30 ET (06:30 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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