As part of its 2020 strategic plan to combine organic growth with targeted acquisitions, ABEO, a designer, manufacturer and distributor of sports and leisure equipment, today announces the signing of an agreement for the acquisition, subject to conditions precedent, of the entire share capital of META Trennwandanlagen GmbH & Co. KG.
Based south of Cologne, META offers a wide range of cubicle systems in different configurations, cupboards, lockers and accessories and has a fully automated production plant. It has 84 employees and posts annual revenue of €15-20m and an EBITDA[i] margin of over 15%.
ABEO intends to capitalise on the experience of META's teams and the excellent relationships forged with customers and suppliers for over 50 years in order to successfully implement its development strategy in the European market.
This acquisition is fully in line with ABEO's strategy of international expansion aimed at stepping up its growth. Germany is one of Europe's largest markets for changing rooms and sanitary fittings. The new business unit would benefit from extensive synergies in terms of product, technical and sales know-how.
ABEO Group ceo Olivier Estèves said: “This acquisition will allow ABEO to penetrate the German market and thereby considerably strengthen its Changing Rooms business. It shows our ability to play an active role in the consolidation of our sector and will complement our strong organic growth.
This acquisition will add to ABEO's existing track record of skilfully managed transactions, both in economic and human resources, and will be a source of synergies and growth drivers.”
This major acquisition for ABEO is subject to the standard conditions precedent for this type of transaction. ABEO expects to close the deal in November 2017.
Find out more at www.abeo-bourse.com
|ABEO is a major player in the sports and leisure (“sportainment”) market. The Group posted revenue of €167 million for the year ended 31 March 2017, 70% of which was generated outside France. At year-end it had 1,200 employees.
ABEO is a designer, manufacturer and distributor of sports and leisure equipment. It also provides assistance in implementing projects to professional customers in the following sectors: specialised sports halls and clubs, leisure centres, education, local authorities, construction professionals, etc.
ABEO has a unique global offering, and operates in a wide variety of market segments, including gymnastics apparatus and landing mats, team sports equipment, physical education, climbing walls, leisure equipment and locker room fittings. The Group has a portfolio of strong brands which partner sports federations and are featured at major sporting events, including the Olympic Games.
ABEO (ISIN code: FR0013185857, ABEO) is listed on Euronext Paris – Compartment C.
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[i] EBITDA = Recurring operating income + depreciation of fixed assets