Essentra completes purchase of Australia-based Kelvindale Products, which manufactures and distributes plastic protection and finishing products, with focus on protective caps and plugs
May 12, 2014
– UK speciality plastic, fibre, foam and packaging products group Essentra Plc (LON:ESNT) said on Monday it had closed its acquisition of Australian plastic protection and finishing products maker Kelvindale Products Pty Ltd, effective today.
The financial value of the all-cash deal was not revealed.
The transaction aligns with Essentra's Vision 2015 strategy envisaging growth through organic projects as well as value-enhancing deals, the buyer said. Following the acquisition, announced last month, Kelvindale Products became part of the company's Component & Protection Solutions arm, allowing the division to enter the Australian market.
Kelvindale Products manufactures and distributes plastic protection and finishing products, with focus on protective caps and plugs.
Essentra is financing the deal through its existing facilities, it further explained.