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SP Group A/S’s Part of TPI Polytechniek bv Increased


Wednesday, 2 Jan 2013 03:58am EST 

SP Group A/S announced that as of January 1, 2013 SP Group A/S has increased its share of the subsidiary TPI Polytechniek bv from 90% to 100%. Seller is Managing Director, Mr. Jeroen van der Heijden, who continues as Managing Director of the subsidiary. The parties agreed not to announce the acquisition price, but the shares have been acquired at approximately five and a half times the profit after tax in 2012 on a debt free basis. The shares will be paid in a combination of cash and SP Group A/S shares end of April 2013 as the seller wants to place some of the sales profit in SP Group A/S shares. TPI Polytechniek bv is one of the producers of polyurethane components for ventilation equipment for poultry and pig houses. TPI Polytechniek bv is situated in ’s-Hertogenbosch in Holland. A subsidiary in Denmark is handling the sales to customers in Scandinavia. The acquisition of the shares is part of SP Group A/S’s efforts to get a more clear structure in the group and to reduce the minorities when relevant. The acquisition is expected to strengthen SP Group A/S’s earnings after minorities in 2013. 

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252.0
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29 Jul 2014