You will find below some PPE transactions performed during the first quarter 2024 involving European acquirors or European targets. Many players are waiting for a better economic and political visibility to pursue the sector consolidation.
- January 2024: acquisition by VIKING LIFE-SAVING EQUIPMENT of the rights to manufacture and supply “Undertun” marine evacuation systems from the Norwegian company which owned them;
- January 2024: acquisition by SURVITEC of the American company VINYL TECHNOLOGY, specialized in complex garment manufacturing, exemplified by the Advanced Technology Anti-G Suit (ATAGS) used in the fast jet sector (US$19m turnover);
- January 2024: announcement by BUNZL of its acquisition of PAMARK in Finland. PAMARK is a leading distributor of cleaning & hygiene, healthcare, foodservice and safety products to a broad range of private and public sector customers in Finland. The company generated €56m of sales in 2023;
- February 2024: announcement by BUNZL of the acquisition of a 80% stake in NISBETS for £339m in cash. NISBETS is an omni-channel distributor of catering equipment and consumables in the UK & Ireland, Northern Europe and Australasia. NISBETS generated £498m of sales in 2023. An additional earn-out amount may be payable based on Nisbets' financial performance in 2024. The transaction includes put / call options enabling BUNZL to acquire the remaining 20% stake in the future;
- February 5th, 2024: announcement by LAKELAND of the acquisition of JOLLY SCARPE S.p.A. and JOLLY SCARPE Romania S.R.L. in a cash transaction of US$9.3m. JOLLY SCARPE is a leading designer and manufacturer of professional footwear for the firefighting, military, police, and rescue markets, headquartered in Italy, with manufacturing operations in Bucharest, Romania. JOLLY SCARPE could add US$14m to US$16m of sales to LAKELAND;
- April 2nd, 2024: announcement by LAKELAND of the acquisition of the fire and rescue business of LHD Group Deutschland GmbH (LHD) and its Hong Kong and Australian subsidiaries in a cash transaction of US$16.7m. LHD is a German leader in firefighter turnout gear, accessories and services, and generates sales of approx. UD$27m.
