CM – Australia’s Incitec takes over French company

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The purchase price of € 91 million on a debt and cashless basis corresponds to an expected acquisition multiple of 7.8x FY20 EBITDA.

Incitec assumes that the investment is neutral in the first full year of ownership and of because the earnings per share are increased because synergies are realized.

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The company said the transaction greatly complements Dyno Nobel’s existing activities and provides access to new markets where it can leverage its premium technology offerings through substitution and growth strategies.

Titanobel has one strong customer base in the mature and stable European market with involvement in the quarry and construction sector, the growing African hard rock sector and the rapidly expanding mining of promising minerals in the EMEA region.

Titanobel is supported by a well-established production site in France, which will be vital to the implementation of the Dyno Nobel strategy in the region.

« The acquisition of Titanobel fits in well with our strategy to bring our core explosives business, for which we are recognized worldwide, to new markets « said Jeanne Johns, CEO of Incitec.

 » We are excited about the potential of new customers and partners with us he market leading technology.

“The ability to build on Titanobel’s rich history, market position and regional presence is an exciting chapter on our growth path and we look forward to welcoming the Titanobel team to IPL .

« This acquisition shows once again the possibilities we have to expand our two high-quality business areas and to position them for the future. »

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