Highlights
- Trajan to acquire Chromatography Research Supplies, Inc. (CRS), a leading global manufacturer of high-quality analytical consumables
- Provides Trajan with enhanced and extended production capabilities to service its growing gas chromatography business. Strengthens Trajan’s product portfolio particularly in the critical area of the gas chromatography inlet and sample introduction
- Expands global infrastructure footprint with the acquisition of manufacturing real estate assets in the US
- Follows three successful acquisitions and one strategic investment since listing on the ASX in June 2021
- Acquisition delivers FY22 forecast revenues of US$14.1 million (A$20.1 million[1]) and EBITDA of US$4.2 million (A$6.0 million[1])[2], and estimated annual synergies of ~A$1.3 million[7]
- Acquisition price of US$43.3 million (A$61.9 million[1]) implies ~9.5x FY22F EBITDA (pre synergies)[3]
- Expected to deliver FY23F earnings per share accretion of >31%[1],[4],[5],[6] (excluding the impact of synergies) or >42% (including 100% of the pro forma impact of identified corporate savings and product line synergies[7])
- Acquisition to be funded via a fully underwritten A$29.7 million institutional placement (Placement), A$20.0 million in acquisition debt financing through a facility with HSBC and $13.4 million from existing cash
- Investor webinar to be held at 10:30am…
