12th Oct 2018 07:32
LONDON (Alliance News) - Diploma PLC said Friday it acquired Actios SAS, the parent company of the Gremtek Group, for an undisclosed price.
The technical products supplier explained that Gremtek is a supplier of sleeving and cable identification products, mostly based in Germany and France.
The acquisition, which will be "immediately earnings enhancing", is part of Diploma's strategy to expand in Europe and provide complementary products to its Interconnect division's markets.
In 2017, Gremtek generated sales of approximately EUR10.8 million and operating profit of EUR1.3 million.
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