UK: SIG, the Sheffield-based building products distributor, has acquired Dutch ventilation product distributor Inatherm.
The deal includes an up-front cash payment of €4.7m, a deferred cash consideration of €0.7m payable in January 2016 and earn-out cash consideration of up to €2.0m dependent on future performance.
Best known as a supplier of insulation, roofing and specialist construction products, SIG also owns Air Trade Centre, a European wide distributor of hvac products and French ventilation equipment manufacturer Ouest Ventil. SIG sees this latest acquisition strengthening its position in the European air handling market.
With headquarters in Waalwijk, Inatherm BV is the Dutch distributor of the well-known Danish Exhausto range of equipment. Inatherm made a profit before tax of €0.6m last year and has gross assets of €1.8m. The company is being sold by Triple R Holding, which is owned by the current management team who will remain with the business and join SIG.