THERMADOR GROUPE (EPA:THEP) - Thermador Groupe : acquisition of Thermacome company
Transparency directive : regulatory news
30/04/2020 18:00
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Press releaseSaint-Quentin-Fallavier - April 30 2020 - 6pm
In keeping with the announcement made on February 3, 2020 and confirmed in the
shareholder letter n° 97 of April 16, 2020, THERMADOR GROUPE has finalized
with ACOME group the acquisition of all THERMACOME's shares, a company based in
Saint-James (Manche county, France) for a total of EUR7 million via a cash
payment on April 30, 2020. For the purpose, THERMADOR GROUPE will take out two
very competitive, fixed-rate, five-year loans with CIC Lyonnaise de Banque and
Société Générale banks.
THERMACOME is specialised in conception, thermal engineering and distribution
of sanitation water pipework systems and heating and thermal comfort in
buildings. It is in the same markets as PBtub (THERMADOR GROUPE subsidiary),
with highly complementary know-how and development projects, both in terms of
clientele and market segment. In 2019 THERMACOME and its 32 employees reported
turnover of EUR19.4m and EUR972,000 operating profit. On December 31, 2019, the
company's net cash position was EUR1.8m.
The project includes keeping the Saint-James site and the skills associated
with it, and developing a close, long-standing partnership for the supply of
PER tubes by ACOME, manufactured in their Mortain industrial site (Manche
county, France).
Florent Kieffer, who was hired by ACOME in 2001 and appointed CEO of THERMACOME
in April 2016, retains that position. He will work closely with Eric Mantione,
current Chairman & CEO of PBtub, to further improve the quality of our product
range and to implement commercial and operational synergies within a reasonable
timeframe.
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