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

Pic: Shutterstock

Textiles | On 28th Mar 2020

Worldwide lockdowns, stimulus shots, raised PPE production

The global response this week to the unfolding COVID-19 crisis saw...

Pic: Shutterstock

Apparel/Garments | On 28th Mar 2020

Vietnam may outdo Bangladesh as 2nd largest RMG exporter

Though Bangladesh is now the second-largest garment exporter...

Pic: Shutterstock

Textiles | On 28th Mar 2020

Morgan Stanley rules out economic depression

With COVID-19 badly damaging the global economy, Morgan Stanley...

Interviews View All

Vidhyaa Shankar. S, A Ganapathi Chettiar

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Headhonchos, Indian textile value chain

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Representatives, Textile & apparel industry

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Henk-Jan Rohaan,

Henk-Jan Rohaan

The custom-built machineries of Brugman Holland are known for reliability, ...

Karen Lou,

Karen Lou

Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...

Eric Fessler,

Eric Fessler

Manufacturer of textile machinery and complete fibre-to-yarn lines, N...

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Ashok Desai, Bombay Textile Research Association

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

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

Leave your Comments


March 2020

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


Advanced Search