MEXICO CITY, March 4, 2016 /PRNewswire/ -- Grupo Rotoplas, S.A.B. de C.V. (BMV: AGUA) ("Rotoplas" or the "Company"), the leading provider of individual and integrated water solutions in the Americas, today announced that it has successfully completed its acquisition of Talsar S.A. in Argentina, per the Rotoplas' announcement dated January 15, 2016, for a total price of MXN $642 million; a ratio of 5.2 times the Company's full year 2015 EBITDA.
Carlos Rojas Mota Velasco, Grupo Rotoplas' Chief Executive Officer, commented, "We chose Talsar due to its strength and leadership position in the water heater market, and we welcome Talsar's employees, suppliers and customers to our Company. Rotoplas and Talsar's combined talent and technology will continue to drive our individual solutions growth in Argentina."
Talsar S.A. is Argentina's leader in the production, distribution and sale of water heaters under the Señorial brand. Talsar has a network of more than 700 customers and reported sales of approximately MXN $ 358 million for the full year 2015.
The transaction will be fully financed through Grupo Rotoplas' internal resources.
Group Rotoplas will integrate Talsar S.A.'s results into Rotoplas' first quarter 2016 financial results, within the "Other Countries" item.
This press release may include certain forward-looking statements relating to Grupo Rotoplas S.A.B. de C.V., it relies on considerations of the Grupo Rotoplas S.A.B. de C.V. management which are based on current and known information; however, the forward-looking statements could vary due to facts, circumstances and events beyond the control of Grupo Rotoplas, S.A.B. de C.V.
About the Company
Grupo Rotoplas S.A.B. de C.V. is the leading provider of individual and integrated water solutions for storing, carrying, and treating water in the Americas. With more than 35 years' experience in the industry and 23 plants throughout North, South and Central America, Rotoplas has a presence in 12 countries and a portfolio that includes 17 product lines. Grupo Rotoplas has been listed on the Mexican Stock Exchange (BMV) under the ticker "AGUA" since December 2014.
SOURCE Grupo Rotoplas S.A.B. de C.V.