SIG acquires specialist distributor of air handling products

3rd Jul 2014 07:10

Building products distributor SIG has acquired Inatherm BV, a specialist distributor of air handling products based in the Netherlands for an initial €4.7m and a deferred €0.7m due in January 2016. In 2013 the group generated profit before tax of €0.6m and had gross assets of €1.8m at the year-end. The FTSE 250-listed group will also pay an earn-out cash consideration of up to €2.0m, which will be based on the performance of the business over the period to December 31st 2016."This infill acquisition further strengthens the group's position in the Mainland European air handling market, where it already has a significant presence through Air Trade Centre and Ouest Ventil," a statement from the company read. NR