Pressure Technologies (AIM:PRES) Wake up market and look at the cycle!
In the Groups new Engineered Products Division management confirmed that Al-Met had record annual sales in 2011. When it bought Al-Met in Feb 2010 it announced that turnover for the 12 months ending 31 December 2009 was £4.2m, adjusted adjusted EBITDA £0.5m and gross assets of £2.0m. The initial cash consideration, represents a multiple of 3.5 times unaudited historical adjusted EBITDA. That sounds alright to us!
Management has confirmed that they expect the current record…
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