Generic filters
Exact matches only
FS Logoi
Honeywell today announced that it has signed a definitive agreement to acquire the Elster Division of Melrose Industries plc for approximately $ 5.1 billion. Elster is a leading provider of thermal gas solutions for commercial, industrial, and residential heating systems and gas, water, and electricity meters, including smart meters and software and data analytics solutions, and also manufactures flow computers and regulators for the gas industry. The acquisition is anticipated to occur in the first quarter of 2016.
Elster consensus sales for 2015 are estimated to be $ 1.8 billion. The price translates to approximately 12.6 times Elster's estimated 2015 consensus earnings before interest, taxes, depreciation, and amortization (EBITDA). The agreement is subject to customary closing conditions, including regulatory review and Melrose shareowner vote. "Elster has outstanding technologies, brands, energy efficiency know-how, and global presence, all of which we are very well-positioned to build on. Elster also creates a new platform for acquisition targets for Honeywell that will be additive to the business' growth and global presence. We will see immediate benefits to Honeywell's portfolio, accelerating into 2016 and 2017. This is a great acquisition for Honeywell and our shareowners," said Honeywell Chairman and CEO Dave Cote.

Honeywell to acquire the Elster Division of Melrose Industries

Kategorien: |
Autor: Redaktion

Datum: 28. Jul. 2015

Elster consensus sales for 2015 are estimated to be $ 1.8 billion. The price translates to approximately 12.6 times Elster’s estimated 2015 consensus earnings before interest, taxes, depreciation, and amortization (EBITDA). The agreement is subject to customary closing conditions, including regulatory review and Melrose shareowner vote.
"Elster has outstanding technologies, brands, energy efficiency know-how, and global presence, all of which we are very well-positioned to build on. Elster also creates a new platform for acquisition targets for Honeywell that will be additive to the business’ growth and global presence. We will see immediate benefits to Honeywell’s portfolio, accelerating into 2016 and 2017. This is a great acquisition for Honeywell and our shareowners," said Honeywell Chairman and CEO Dave Cote.