Skellerup still in the long game of buying up niche companies with a connection to rubber products. The Nexus acquisition today looks to be a good fit with Skellerup company culture.
https://www.nexusfoams.com/
Purchase price of $6.5m might imply sales levels of a similar amount?
"Our dedicated manufacturing facility in Auckland’s Highbrook Technology Estate allows us to represent leading flexible foam brands from around the world and design, prototype and manufacture new components. At the same time, our sites in East Tamaki (Auckland) and Christchurch add to our expanding network, which currently employs 37 staff and is growing."
"We export around the world to markets like Asia, Australia and the United States – with our eye also on new opportunities overseas."
With revenue of last year at $240m, an extra $6.5m is not a game changer. But as a shareholder I am happy with the purchase. I particularly like the 'earnings accretive' immediately bit.
SNOOPY