STOCKHOLM, Dec. 22, 2020 /PRNewswire/ -- INVISIO has
today signed an agreement to acquire all the shares in Racal
Acoustics, a UK-based supplier of communication and hearing
protection systems for high noise environments, with annual sales
of approximately SEK 130
million.
Racal Acoustics Ltd, a subsidiary of TransDigm Group Inc. prior
to INVISIO's acquisition, is a world-leading brand with a history
of more than 100 years in the design, development and manufacture
of communication and hearing protection systems, focused on audio
ancillary equipment for the military, first responder and aviation
sectors. The London-based business
has 55 highly skilled employees and a global footprint.
The acquisition is aligned with INVISIO's growth strategy and
the ambition to further strengthen its global market-leading
position within communication and hearing protection
systems.
The acquisition means that INVISIO will broaden its offer with a
complementary new product category, consisting of advanced and
rugged hearing protection and communications headsets for
environments with constant high noise, often found in larger
military vehicles and around aircraft.
The acquisition will provide INVISIO with access to customers
and prospects in the attractive market niche for communication and
hearing protection in vehicles, which is a highly relevant
area for the new INVISIO Intercom System.
The purchase price to be paid by INVISIO is approximately
SEK 170 million and is expected to be
cash and debt-financed. Racal Acoustics has recently completed a
successful restructuring. The acquisition is expected to contribute
to INVISIO's revenue for 2021 with more than SEK 130 million and with a positive result. No
material integration costs are anticipated.
Under the terms of the acquisition, INVISIO will also acquire
Racal Acoustics Inc, a US based sales company through which Racal
Acoustics markets and sells its products to the US market. The
acquisition, which is expected to close during the first quarter of
2021, is subject to regulatory approvals and customary closing
conditions.
"We are very excited to welcome Racal Acoustics into the
INVISIO-family. The deal is a perfect fit as the two companies are
largely complementary. Over many years Racal Acoustics has built a
strong position for communication and hearing protection in high
noise environments such as military vehicles, while INVISIO has
built a strong position for users in the field. Our combined
product offerings and market footprints will strengthen our world
leading position as the communication and hearing protection expert
for users within military, first responder and aviation markets,
whether in the field or in a vehicle," says Lars Højgård Hansen,
CEO of INVISIO.
"Joining INVISIO is the perfect next step to fully explore the
potential in Racal Acoustics. As the companies to a large extent
share the same business-DNA but target different market segments
and sales channels, we have all the elements for a strong growth
story and future together," says James
Ewing, Managing Director at Racal Acoustics.
For more information, please contact:
Lars Højgård Hansen, CEO, INVISIO AB
Mobil: + 45 5372 7722 | E-mail: lhh@invisio.com
Michael Peterson, Director Investor
Relations & Corporate Communication, INVISIO AB
Mobile: + 45 5372 7733 | E-mail: mpn@invisio.com
The advisers to INVISIO are PwC, Cederquist, Orrick Herrington & Sutcliffe. The advisors
to TransDigm are Reed Smith and
Seabury Securities.
This information is information that INVISIO AB (publ) is
obliged to make public pursuant to the EU Market Abuse Regulation.
The information was submitted for publication, through the agency
of the CEO, on December 22, 2020 at 02:30 CET.
About INVISIO AB (publ)
INVISIO develops and sells advanced communication systems that
enable professionals in noisy and mission critical environments to
communicate, protect their hearing and work effectively. The
company combines specialist knowledge in acoustics and hearing with
broad engineering know-how in software, materials technology and
integration. Sales are via the headquarters in Copenhagen and sales offices in the
USA, France and Italy and via a global network of partners.
INVISIO's registered office is in Stockholm, Sweden and the company is listed on
Nasdaq Stockholm (IVSO). www.invisio.com.
About Racal Acoustics Ltd.
Racal Acoustics delivers reliable, versatile audio communications
while maintaining the highest levels of user safety and comfort.
The products feature the latest digital signal processing and
acoustic design. Racal Acoustics solutions include headsets for
high-noise and medium-noise environments, as well as accessories,
for use in paramilitary, first-responder and aviation markets. The
London based company was a
subsidiary of TransDigm Group Inc. prior to INVISIO's acquisition.
www.racalacoustics.com
About TransDigm Group Inc.
TransDigm Group, through its wholly owned subsidiaries, is a
leading global designer, producer and supplier of highly engineered
aircraft components for use on nearly all commercial and military
aircraft in service today. The annual revenue for the fiscal
year, ended September 30, 2020,
amounted to USD 5,103 million.
TransDigm common stock is traded on the New York Stock Exchange and
the ticker symbol is TDG. www.transdigm.com
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INVISIO acquires
Racal Acoustics
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