DGAP-News: KAP AG / Key word(s): Disposal
KAP AG: SUCCESSFUL SALE OF THE IT/SERVICES SEGMENT FOR STRATEGIC RESASONS AND CONCENTRATION ON THE CORE BUSINESS
Fulda, 29 June 2021 - KAP AG ("KAP"), a listed SME holding company (WKN 620840, ISIN DE0006208408), today successfully completed the sale of its it/services segment. Following the sale of the subsidiary MEHLER Engineering und Service GmbH to its former management with effect as of 1 January 2021, KAP today signed an agreement on the sale of it-novum GmbH ("it-novum") to a company of Allgeier SE with effect as of 30 June 2021. The purchase price (enterprise value) is around €22 million and results in a multiple of 9.5 on normalised EBITDA.
Optimisation of financial leeway to expand the industrial core segments
Eckehard Forberich, Member and Spokesman of the Management Board of KAP AG: "We are convinced that it-novum and its entire workforce can be very well integrated into Allgeier SE and optimally developed. We would like to expressly thank the management and the entire workforce for their hard work, which made a decisive contribution to the KAP Group's success in the past few years. By successfully selling the it/services segment, we achieved an important milestone in our medium-term strategy. There are currently increasingly attractive M&A opportunities for the KAP Group's industrial segments in the market, and we want to systematically exploit them."
Management Board confirms outlook for 2021
About KAP AG
KAP AG is a listed industrial group in the upper midsize market that offers attractive growth opportunities in its respective niche markets. KAP AG focuses on four different business areas: engineered products, flexible films, surface technologies and precision components. Through targeted acquisitions, the company strengthens its existing business areas or exploits new market opportunities. KAP allows its shareholders to participate in its long-term profitable growth through a stable dividend. The group currently has 29 locations and around 2,300 employees in 12 countries. The shares of KAP AG are listed on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard, ISIN DE0006208408).
29.06.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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