Manufacturing News

Ansell to acquire Microgard

Protective clothing and condom maker Ansell has agreed to
buy UK-based company Microgard for approximately £59 million ($113m).

Ansell said in a statement that, subject to German
anti-trust clearance and customary closing conditions, the deal is expected to
complete during the second quarter of the current calendar year.

Founded in 1975, Microgard manufacturers and supplies
chemical protective clothing. The company has sales in over 75 countries and a manufacturing
facility in Xiamen, China. It has grown rapidly, primarily in EMEA and APAC,
with sales of approximately USD $40 million in calendar year 2014 and 750
employees worldwide.

“This acquisition is another critical step in building
the Ansell body protection business as part of the Industrial Global Business
Unit,” said Magnus Nicolin, Chief Executive Officer and Managing Director at
Ansell.

He added that the acquisition will ensure that Ansell has “a
world-class portfolio of chemical protection solutions, leveraging our strong
global footprint and Ansell Guardian solution selling capabilities to help
customers improve protection and productivity in a wide-range of end user
verticals.”

“We are pleased that Microgard is joining forces with
Ansell, the recognized world leader in protection solutions,” says Graham
Stonehouse, Microgard Founder and Chairman. “Ansell’s global reach, commitment
to quality, and record of innovation will deliver immediate value to our
business, our people, and our partners.”

Ansell expects the acquisition, including all transaction
costs, to be marginally dilutive to EPS in F15, and accretive in F16.

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