Ansell Limited (ASX:ANN), a global leader in safety protection solutions, announces the acquisition of Ringers Gloves, a leading provider of specialty impact gloves to oil & gas and general industry segments with headquarters in Houston, Texas for a total consideration of US$70m and subject to usual closing adjustments.
For over 20 years, Ringers Gloves has developed a best-in-class portfolio of impact protection gloves engineered specifically to serve the unique safety needs of their customers worldwide. Customer-driven innovation, along with worksite safety assessment support, has enabled Ringers’ gloves to become one of the most recognized impact gloves in the industry. The company has $34m in sales and 39 employees.
Ansell has enjoyed significant success within its Mechanical portfolio in recent years driving growth through innovation of its HyFlex® brand of cut and general purpose hand protection. In addition to the global leadership of HyFlex in the cut and general purpose segments, Ansell also provides a range of specialty and thermal protection solutions under its ActivArmr® brand. This acquisition provides a highly complementary suite of industry leading impact protection products, expanding Ansell’s position in this attractive and growing specialty category. Combining Ringers Gloves’ product offering and oil & gas vertical expertise, with Ansell’s Guardian® aligned solution selling approach and global footprint, will advance worker protection and productivity for industrial customers around the world.“
The acquisition of Ringers Gloves is consistent with Ansell’s growth strategy as we look to strengthen our market leadership position across the full range of industrial hand protection needs,” says Magnus Nicolin, Chief Executive Officer and Managing Director at Ansell. “Acquiring Ringers will advance Ansell’s safety protection solutions platform, creating a leading position in the important and growing specialty category of impact protection gloves. Ansell has a track record of achieving accelerated growth from highly synergistic strategic acquisitions where the acquired business can be rapidly developed through leveraging Ansell’s global sales reach and strength of customer relationships and Ringers presents an excellent new opportunity for us.”
Ansell expects the acquisition, including all transaction costs and integration expenses, to be approximately 1 cent dilutive to EPS in FY19 and 1 cent accretive in FY20. Closing occurred concurrent with signing and with effect from 1 February 2019.