Accrol Group Holdings plc (LON:ACRL), the UK’s leading independent tissue converter, has announced that the Group has completed the acquisition of Severn Delta Limited, a £5m revenue wet wipe and tumble dryer sheet manufacturer based in Somerset, for an EBITDA multiple of less than 3x before synergies. The acquisition was funded from the Group’s existing cash reserves.
Acquisition rationale
The acquisition of Severn Delta demonstrates the Group’s ambition to broaden into other household products through strategic and complementary acquisitions which strengthen and extend the existing product offering. Severn Delta brings additional capacity and new capabilities to Accrol’s growing wet wipe segment.
