CARCLO
Czech-based supplier FLTC acquired / Technical plastics firm's presence in central Europe strengthened
Technical plastics specialist Carclo (Ossett / UK; www.carclo.co.uk) has acquired one of its European suppliers in a deal worth up to CZK 43.2m (EUR 1.6m). Carclo acquired FLTC (Ostava / Czech Repulic; www.fltc.eu), a design company focusing on automotive LED lighting design. One of Carclo's subsidiaries, Wipac, has been a major customer of FLTC’s for the last three years, last year accounting for approximately a third of FLTC's CZK 49.2m (EUR 1.82m) turnover.
Consideration for the deal, including working capital and cash adjustments, is subject to a number of conditions being met, including the continuing employment of a number of FLTC shareholders.
Carclo said the deal would boost its stated strategy of rapidly expanding its Wipac LED lighting operations into both the low volume and mid volume prestige car markets. Chris Malley, Carclo’s CEO, said the deal would add "significant skills and capabilities to our Wipac business and will provide us with both an immediate step up in design capability as well as a base to further expand our design resources in the Czech Republic."
Consideration for the deal, including working capital and cash adjustments, is subject to a number of conditions being met, including the continuing employment of a number of FLTC shareholders.
Carclo said the deal would boost its stated strategy of rapidly expanding its Wipac LED lighting operations into both the low volume and mid volume prestige car markets. Chris Malley, Carclo’s CEO, said the deal would add "significant skills and capabilities to our Wipac business and will provide us with both an immediate step up in design capability as well as a base to further expand our design resources in the Czech Republic."
11.04.2017 Plasteurope.com [236649-0]
Published on 11.04.2017