Home / Knowledge / News / Textiles / Acquisitions to further strengthen market positions, Davis
Acquisitions to further strengthen market positions, Davis
16
Jan '10
The Davis Service Group Plc announces that it has made two strategic acquisitions for a combined cash consideration of £44.5 million, of which £2.5 million is deferred beyond 2010.

In our Nordic region, we have acquired the Norwegian and Swedish mat service businesses of ISS, which in 2009 had combined revenues of £12 million and gross assets of £6 million, mostly in Norway. We have also entered into a strategic partnership agreement with ISS under which the Group will provide mat services to ISS' customer base across the Nordic region.

In our Continent region, we have acquired the workwear business of Klarner, a privately owned company based near Cologne which had 2009 revenues of £10 million and gross assets of £5 million, and which further strengthens our German workwear business.

These acquired businesses are already profitable and cash generative, and the Group has well-developed plans to increase both sales and margins. We expect the acquisitions to provide modest earnings enhancement during the integration period in 2010 and to meet the Group's return targets from 2011.

Peter Ventress, CEO of Davis commented,
“We continue to focus our resources on growing those segments of our business which offer the highest growth and margin opportunities. Facility services and workwear are both higher growth sectors in Continental Europe, with Germany and Scandinavia being strategically important regions for us. Our excellent cashflow and strong balance sheet have enabled us to take advantage of these two opportunities to expand our market presence in these areas.”

The Davis Service Group Plc


Must ReadView All

Textiles | On 25th Jul 2017

Global growth to pick up in 2017 and 2018: IMF

The pickup in global growth anticipated in the April World Economic...

Textiles | On 25th Jul 2017

Pakistan’s textile exports stay stable in FY17

The value of textile and garment exports made by Pakistan increased...

Textiles | On 24th Jul 2017

Govt extends deadline for GST composition scheme to Aug 16

The Government on India has extended the deadline for small...

Interviews View All

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X