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BRIEF-Fluidra Unit To Buy 100% Of Units Of Membership Interest Of US Company SRS For $240 Mln

reuters.com · 09/01/2021 02:43
BRIEF-Fluidra Unit To Buy 100% Of Units Of Membership Interest Of US Company SRS For $240 Mln

- Fluidra SA FLUIF:

  • FLUIDRA HOLDCO NORTH AMERICA TO BUY 100% OF THE UNITS OF MEMBERSHIP INTEREST OF THE US COMPANY SRS HOLDCO

  • ACQUISITION WAS VALUED AT $240 MILLION AND WAS FULLY SETTLED AT CLOSING WITH FLUIDRA’S EXISTING CASH AND DEBT FACILITIES

  • TRANSACTION ALSO INCLUDES STANDARD NET WORKING CAPITAL ADJUSTMENT MECHANISM TO ADDRESS FLUCTUATION OF WORKING CAPITAL

  • ACQUISITION IS EXPECTED TO BE ACCRETIVE TO FLUIDRA’S CASH EPS FROM DAY ONE

  • RAISING ITS 2021 GUIDANCE BASED ON THE EXPECTED POSITIVE CONTRIBUTION FROM SRS’S ACQUISITION AS FOLLOWS

  • SEES 2021 SALES GROWTH FROM 35-40% TO 37-42%

  • SEES 2021 EBITDA MARGIN TO STAY AT 25% TO 25.5%

  • SEES 2021 CASH EPS GROWTH TO INCREASE FROM 80-90% TO 83-93%

  • FOLLOWING ACQUISITION, SR SMITH WILL CONTINUE TO OPERATE INDEPENDENTLY FROM ITS OREGON HEADQUARTERS

Source text for Eikon: ID:nCNM6lzRLf

Further company coverage: FLUIF


(Gdansk Newsroom)

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