Avon Rubber p.l.c., Team Wendy, LLC - M&A Call Transcript
Good morning, ladies and gentlemen. I'm Paul McDonald, CEO of Avon Rubber, and I'm here this morning with Nick Keveth, our CFO. And we're absolutely delighted to be hosting this call to announce the proposed acquisition of Team Wendy.
This marks a further chapter in the strategic transformation of Avon Rubber and strengthens our position as a leading provider of life-critical personal protection systems. The acquisition will create a global leader in military and first responder helmets, adding a high-quality and highly complementary business to the group. We have agreed to purchase Team Wendy for a cash consideration of $130 million, which represents a 9.7x trailing EBITDA multiple.
Team Wendy has a track record of profitable growth and delivers attractive financial returns that are higher than the group average for Avon. Alongside the acquisition and as part of our long-term capital structure planning, we've also entered into a new $200 million credit facility to support our medium-term growth opportunities and future M&A.
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