US$15 Million Acquisition of Overland Products

RNS Number : 2865U

Lupus Capital PLC

20 December 2011

 



LUPUS CAPITAL PLC

("Lupus" or the "Group" or the "Company")

US$15 MILLION ACQUISITION OF OVERLAND PRODUCTS COMPANY, INC

Lupus Capital plc announced today the acquisition of Overland Products Company, Inc ("Overland") for consideration of approximately US$15 million.

Overland supplies an extensive range of stampings for a wide range of applications, mainly in the fenestration market, and is a long-standing partner and supplier to the Group's US Building Products Division - Amesbury.  Overland is based in Fremont, Nebraska and in the year ended 31 December 2010, generated sales in excess of US$10 million.

Overland will continue to supply its existing customer base from Fremont as a part of Amesbury's Hardware Division.  Further benefits are expected to accrue from Amesbury's strong customer relationships and sales structure in the US and potential operational synergies with other Amesbury facilities.  Bill Ekeler, presently CEO of Overland, will become General Manager of the Overland Facility following completion.

Commenting on the acquisition, Louis Eperjesi, Chief Executive of Lupus Capital, said:

"The opportunity to combine Overland's product range and expertise into our existing US hardware business and strong customer relationships is a very positive development for Amesbury and its customers.  The acquisition of Overland is the logical next step in the development of the strong relationship between our two businesses. 

"By extending the range of products that Amesbury can offer customers, we will further enhance our leading position in the US building products market."

20 December 2011

Enquiries:
Lupus Capital plc	020 7976 8000
Louis Eperjesi
James Brotherton
Collins Stewart Hawkpoint - NOMAD and Broker	020 7523 8350
Mark Dickenson
Bruce Garrow
College Hill	020 7457 2020
Mike Davies
Helen Tarbet

 

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