Completion of BMP TAPPI acquisition
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Further to the announcement on 21 September 2023, Essentra plc, a leading global provider of essential components and solutions, today announces the completion of the acquisition of BMP s.r.l ("BMP TAPPI"), following receipt of local government approval and competition clearances.
Scott Fawcett, CEO of Essentra plc, commented:
"I am pleased to announce the completion of BMP TAPPI, which represents our second bolt-on acquisition as a pure-play components business. This acquisition will strengthen Essentra's product portfolio, unlock further cross-selling opportunities, and will enhance the Group's manufacturing footprint in Europe.
We have a strong balance sheet, and a clear bolt-on inorganic growth strategy. BMP TAPPI is expected to be accretive to Group margins and adjusted EPS in the first full year post-completion, with a ROIC of c.15% expected to be delivered within three years.
Acquisitions like Wixroyd Group, acquired in December 2022, and BMP TAPPI are excellent examples of the businesses from which we deliver attractive synergies and drive incremental value for shareholders."
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