LONDON (dpa-AFX) - Electrocomponents plc (ECM.L), on Thursday, announced that it has agreed to acquire an integrated supply solutions company Synovos, and has acquired safety products and PPE provider Needlers for a total consideration of about £150 million on a debt-free, cash-free basis.
The company noted that Synovos deal would accelerate delivery of a global integrated supply proposition and significantly strengthens its Americas business. The company's Needlers acquisition expands its products and solutions in safety, hygiene and PPE product category.
Lindsley Ruth, Electrocomponents' Chief Executive Officer, said, 'Both Synovos and Needlers are very good businesses, aligned to our strategy of selectively adding high-quality, value-creating bolt-on acquisitions to the Group.'
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