Nitritex Acquisition Adds to Growth Brands and Manufacturing Capacity: Maintaining FVE for Ansell
We maintain our AUD 22.50 per share fair value estimate for narrow moat Ansell following its acquisition of Nitritex, a U.K.-based specialist manufacturer of branded cleanroom and healthcare consumables. Specialist products items include gloves, garments, goggles, face masks, and accessories, and are distributed to Life Science customers, mainly in Europe. We think Nitritex should be positive for the company’s medical global business unit, a division hampered by higher manufacturing costs in fis...Ansell, along with its subsidiaries, is engaged in the development, manufacturing and sourcing, distribution and sale of gloves and protective personal equipment in the industrial and medical gloves market, as well as the sexual wellness category worldwide. Co. operates in four main business segments: Medical, which manufactures and markets surgical and examination gloves together with a range of healthcare safety devices; Industrial, which manufactures and markets hand and body protection solutions; Single Use, which provides single use industrial application gloves; and Sexual Wellness, which manufactures, sells and markets a range of branded condoms, lubricants, devices and fragrances.
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