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Ansell Limited To Acquire BarrierSafe Solutions International
Date:11/25/2013

ith an EBITDA multiple similar to that paid by Ansell in other recent transactions. I am also delighted to confirm that BarrierSafe CEO Michael Mattos and COO/CFO Joseph Kubicek will become part of the Ansell leadership team on completion of the transaction, and I expect BarrierSafe senior management to play important roles in the success of the combined business going forward."

BarrierSafe is the leading North American provider of single-use gloves to core Ansell growth verticals like Industrial, Auto Aftermarket, Emergency Medical Services, Dental and Life Sciences, all under the flagship brand Microflex®. BarrierSafe also manufactures and distributes a market leading range of Onguardbranded protective footwear. BarrierSafe has approximately 250 employees in locations across North America and Southeast Asia.

Ansell expects to achieve significant cost synergies primarily from supply chain savings as well as increased revenue opportunities from cross-selling and vertical development.  

On a normalised basis, excluding non-recurring costs (transaction costs and one-time integration expenses), the acquisition is expected to be accretive to EPS in the low-single digit % in F'14 and in the mid-single digit % in F'15.

After including non-recurring costs the acquisition is expected to be marginally dilutive to reported EPS in F'14 and accretive to reported EPS by a low-to-mid-single digit % in F'15.

UBS is acting as the sole financial adviser to Ansell, and Drinker Biddle & Reath LLP and Baker & McKenzie are its legal advisers.

Ansell will host an investor webcast to discuss further details of the acquisition on 26 November 2013 at 10:30am (AEDT) / 25 November 2013 at 6:30pm (US EST), and 11.30pm (London GMT). To access this webcast, please refer to the following inform
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SOURCE Ansell Limited
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