9th May 2018 10:17
LONDON (Alliance News) - Hill & Smith Holdings PLC announced on Wednesday that it has acquired Work Area Protection Corp, a US supplier and manufacturer of safety equipment for road work zones.
The UK-based construction supply company acquired Work Area Protection and its affiliated assets for USD42.0 million in cash on a debt-free, cash-free basis.
In the two years ended February 28, Texas- and Illinois-based Work Area Protection recorded average revenue of USD47.7m and adjusted earnings before interest, taxation, depreciation and amortization of USD4.8 million.
"The acquisition provides Hill & Smith with a strong platform to accelerate the expansion of both our existing US and international road businesses," said Hill & Smith Chief Executive Derek Muir.
The share price on Wednesday was up 5.0% to 1,449.25 pence per share.
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