Incitec Pivot Inks Deal to Buy French Explosives Company Titanobel for About $103M

- Advertisement -


Rhiannon Hoyle. By

- Advertisement -
- Advertisement -

Incytech Pivot Ltd said it has agreed to a 91 million euro (US$103 million) deal to buy Xploinvest, the holding company of France-based explosives maker Titanobel.

The deal announced on Monday is on a debt-free and cash-free basis and has an expected acquisition of 7.8 times fiscal year 2020 earnings before interest, taxes, depreciation and amortization, InsiTech Pivot said.

- Advertisement -

“This investment is expected to be EPS [earnings per share] Neutral in the first full year of ownership and EPS accretion from then onwards when synergies are realized,” the company said.

InsiTech Pivot said the business complements the existing operations of its DynoNoble unit and will give the company access to new markets “where DynoNoble can leverage its premium technology offerings through replacement and development strategies.”

The company said the acquisition will be funded from existing cash reserves and debt and is expected to be completed by June.

Write to Rhiannon Hoyle at [email protected]

,

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox