Aalberts : Restart of divestment program
>Sale of Lasco Fittings - Aalberts has announced the sale of Lasco Fittings Inc, a US plastic fittings company part of the Installation technology (or Integrated Piping Systems) unit. Total sales amounted to $ 150m (2020 we assume) and that would imply, using a 13% EBITDA margin (so below the 14.9% division average of 2019 and 14.2% of 2020) and an EV/EBITDA multiple range of 7-8x, total proceeds of c. € 130-150m. No deconsolidation date yet.Sale of Adex ...Aalberts Industries is a technology company. As of Dec 31 2015, Co. is organized into four businesses: building installations, which produces and sells connection systems and valves to distribute and control water or gas in heating, cooling, drinking water, gas and sprinkler installations in residential, commercial and industrial buildings; climate control, which develops and produces complete hydronic systems-from source to emitter- for heating and cooling systems; industrial controls, which develops and produces regulation and control systems for selected niche markets; and industrial services, which provides a combination of material technology know-how and manufacturing capabilities.
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