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(Sharecast News) - Amcomri Group has completed the sale of adhesive tape manufacturer Premier Limpet to Dalpo Group UK for an initial consideration of 10.1m, generating net cash proceeds of about 7m after debt repayment.
The AIM-traded engineering and manufacturing group said the disposal could also generate additional consideration equal to 0.9 times any trading EBITDA above 1.4m for the year ending 31 December.
Amcomri acquired Premier Limpet in 2021 for an initial 2.95m, with only 250,000 funded from its own cash reserves, and said the sale represented a return of about 28 times invested capital following operational improvements and the 2024 bolt-on acquisition of Supreme Tapes and Converting.
Chief executive Hugh Whitcomb said the disposal demonstrated the success of the group's "Buy, Improve, Build" strategy and would provide additional capital to fund further acquisitions, adding that trading across the wider business remained in line with market expectations.
At 1016 BST, shares in Amcomri Group were down 1.34% at 146.02p.
Reporting by Josh White for Sharecast.com.
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