Accrol Group Holdings plc (LON:ACRL) is the topic of conversation when Mike Allen, Head of Research at Zeus Capital joins DirectorsTalk. Mike shares his thoughts on the LTC acquisition, how this factors into the forecasts and the key benefits of the deal.
Following the announcement made by the Company on the 23 November 2020 titled “Admission of Shares & Total Voting Rights”, Accrol Group Holdings plc, a leading independent tissue converter in the UK, has now announced that the Final Condition has now been satisfied and the Acquisition has now completed.
The capitalised terms used in this announcement have the same meanings as in the Announcement, unless otherwise stated.
Dan Wright, Executive Chairman of Accrol, said:
“We are delighted to announce the completion of this, our first acquisition. LTC fulfils all our selective M&A criteria. It’s well-invested; it’s ideally located, in central England; it has strong day-to-day management team; and its product mix and customer base are highly complementary to our existing business.
“The acquisition is immediately earnings enhancing and takes our share of the £1.7bn UK tissue market to c.16%. Importantly, it represents another milestone on our journey to build a world-class, operationally efficient business of size and scale, which delivers substantial returns to shareholders through organic and acquisitive growth. I would like to thank our existing and new shareholders for their support and confidence in our team and look forward to updating everyone on the progress of the integration in due course.
“On behalf of the team at Accrol, I welcome everyone at LTC to the Group and look forward to an exciting future working together.”
