Deal Snapshot
FLOWTECH FLUIDPOWER ACQUIRES DUTCH EQUIPMENT DISTRIBUTOR THE HYDRAULIC GROUP
Wednesday 13 September 2017

UK-based technical fluid power products supplier Flowtech Fluidpower plc (AIM: FLO) added to its Power Motion Control division through the acquisition of Dutch hydraulic equipment distributor The Hydraulic Group B.V., the company said.
The consideration of approximately GBP 2.8m (USD 3.72m) is to be satisfied as to c. GBP 2.1m in cash on completion, and the balance of c. GBP 0.7m by the allotment of 495,179 new ordinary shares in Flowtech to Leo Voogd. In addition, an option over 330,119 shares is to be issued with an exercise price of 138.7 pence. Flowtech Fluidpower will also assume the net debt position of Hydroflex at completion, which is expected to be c GBP 0.6m. The maximum total consideration, including assumed debt, following any completion accounting adjustments is c. GBP 3.7m.


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Details
Date Published: 13/09/2017
Target: The Hydraulic Group
Country: Netherlands
Deal Size: 3.72m (USD)
Sector: Machinery/Engineering
Type: Corporate acquisition
Financing: Cash and Stock
Status: Agreed
Vendor:
Buyer: Flowtech Fluidpower
Comment:


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