STOCKHOLM, Sweden, Dec 29, 2016 /PRNewswire/ --
On 15 December 2016, Troax Group announced the acquisition of Folding Guard, a division within Leggett & Platt US. The acquisition has now been completed.
The acquisition of Folding Guard is made through Troax Group's wholly-owned subsidiary Troax Inc. The purchase price of USD 25.8 million has been paid and Folding Guard will, as of today, be included in Troax Group's financial figures. The purchase price is subject to adjustments during a period of maximum 120 days based on revised calculations, by both parties, of the closing balance statement. A second payment of maximum USD 2.2 million may be paid, if the 12 month rolling EBITDA, as calculated in June 2017, exceeds USD 3.225 million. The acquisition has been financed through existing cash and a tap issue under the company's existing bond loan.
For additional information contact:
Thomas Widstrand, CEO
This information is information that Troax Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 16.00 CET on 29 December 2016.
More information about the company is available on www.troax.com.
President and CEO
Troax Group AB
330 33 Hillerstorp
Tel 46 (0)370-82831
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SOURCE Troax Group AB