StockMarketWire.com - Essentra said Friday it had acquired Nolato Hertila for SEK 58m, or about £4.9m.

Sweden-based Hertila is a manufacturer and distributor of caps and plugs and other plastic components for a wide range of industrial end markets including automotive, mining, coating, hydraulics and medical.

The acquisition of Hertila is expected to not only expand the company's components division's product range but also add manufacturing capacity in Scandinavia, complementing Essentra's existing facility in Sweden.

For the year ended 31 December 2017, Hertila generated revenue of SEK 39.9m (about £3.4m). 'The acquisition of Hertila is a further example of our Components division strategy being put into action, following on from the Micro Plastics transaction at the end of last year, where the integration is in line with expectations,' said Paul Forman, Chief Executive, said. 'As a leading provider of caps and plugs, Hertila strengthens one of our core product ranges, adds valuable injection moulding capability in Northern Europe and provides attractive opportunities for cross-selling, making it a great strategic fit with our own business.'



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