The Acquisition will be funded from the Company's debt facilities and the proceeds of a proposed placing of new ordinary shares in the Company, to raise approximately £18 million (the "Placing").
Westfield multipanel full#
The Acquisition is expected to be double digit earnings enhancing in the first full financial year post completion of the transaction. Grant Westfield is a market leading designer, manufacturer and supplier of waterproof bathroom wall panels in the UK. Norcros, a market leading supplier of high quality and innovative bathroom and kitchen products, is pleased to announce that it has conditionally agreed to acquire Granfit Holdings Limited ("GHL" and, together with its subsidiary undertakings, "Grant Westfield"), from the Sellers, for an enterprise value of £80 million with an additional potential earnout of up to £12 million based on certain performance criteria (the "Acquisition"). Product offer through Grant Westfield's market leading position THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF EU REGULATION 596/2014, WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR").Īcquisition accelerates Norcros' strategy to expand its bathroom NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH, ANY INVESTMENT DECISION IN RESPECT OF NORCROS PLC. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN NORCROS PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. View our environmental policy, health & safety policy and much more click here.THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. Consistently monitoring our operations and how they affect the environment, we are committed to developing and implementing systems to help minimise these impacts. They all come with a 15 years warranty, covering cracking, de-lamination and panels remaining watertight, if installed, sealed and maintained according to our published recommendations.Īs one of the leading manufacturers in the country, we recognise our responsibility to protect the environment and the health and safety of our employees, customers and the wider community. Our products are designed to stay stunning, as they are manufactured from the highest quality materials. Highest Quality Wall Panels, Vinyl Flooring & Ceilings They bring finesse without the stress of grout to your home, whilst giving a modern and mould-free finish. Our 100% waterproof panels can be applied directly to almost any bathroom or kitchen surface including tiles, concrete, plaster, plasterboard,chipboard and plywood, or as part as a new installation.
Westfield multipanel install#
The Multipanel range is designed to be easy to install and even easier to maintain. Between our Linda Barker, Heritage, Classic Collections, Reflect, Tile and Economy ranges we have more than 70 designs available for you to choose from, but if you have something specific in mind, let us know.
Perfect for your shower, bathroom and kitchen, our wall panels, floors, and ceilings are available in a broad range of colours, textures and finishes, enabling you to create spaces that match your personality. And, because Multipanel’s beautiful walls, floors and ceilings come in a huge selection of exquisite colours and textures, a whole host of design possibilities open up for you to reinvent your home in a style uniquely yours.
With Multipanel you can say hello to years of easy care and goodbye to cleaning grout and mould.
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