- Diploma said Friday it had acquired Actios SAS, the parent company of the Gremtek Group, for an undisclosed sum in a bid to widen its reach across Europe.

Gremtek supplied its own brand of protective sleeving and cable identification products to a broad range of industrial markets, principally in France, but also in Germany and elsewhere in Europe.

In the year ended 31 December 2017, on a pro forma consolidated basis, Gremtek generated sales of approximately €10.8m and normalised operating profit of about €1.3m. The acquisition of Gremtek would be immediately earnings enhancing, Diploma said.

The company did not disclosed details of the deal, but said the acquired business would be integrated into the Diploma's interconnect group within the controls sector, and help broaden the company's reach across Europe.

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