Manutan International : Acquisition of Essex Electrical Wholesalers
Acquisition of Essex Electrical Wholesalers,
the UK specialist distributor of electrical trade supplies
Paris, 25 July 2016 - Manutan Group (www.manutan.fr), a European leader in the distribution of supplies to companies and local authorities, is pleased to announce today the acquisition of Essex Electrical Wholesalers (www.essexelectricalwholesalers.co.uk), which specializes in providing electrical product requirements for the contracting, maintenance and installation sector of industry in the UK.
Based in Braintree (to the east of London), Essex Electrical was founded in 1987. Building on a solid local presence, Essex Electrical key differentiators include:
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A broad product range;
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Next-day on-site delivery;
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A highly competitive pricing policy.
In the last financial year (ending 31 December 2015) Essex Electrical recorded sales of 4 million pounds sterling, with operating profits in the order of 5% of turnover.
This transaction was wholly financed by the Group's own equity; the Group's financial situation remains as robust as ever.
The acquisition of Essex Electrical enables the Group to reinforce its positions in the UK market, where Manutan is already present with 3 brands: Key, its historic subsidiary ( www.key.co.uk ); Rapid Racking ( www.rapidracking.co.uk ), acquired in 2008; and Ironmongery Direct Limited ( www.ironmongerydirect.co.uk ) acquired in 2013.
About the Manutan Group
The Manutan Group is a European leader in multi-channel equipment distribution for businesses and local authorities. Established in 18 countries through 25 operating subsidiaries, the Group is a leading player in Europe.
Manutan International is listed on Euronext Paris - Compartiment B - ISIN: FR0000032302-MAN.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Manutan International via GlobeNewswire
