Brammer Company on Acquisition Hunt

Resource from: Brammer Inc. Likes:2935

Oct 25,2010

(October 25,2010) Manchester-based Brammer, which supplies replacement factory parts such as bearings, belts and motors, is on the hunt for acquisitions in Europe as it looks to increase its market share overseas. Ian Fraser, chief executive of the Wythenshawe-headquartered business, has 70 per cent of its sales outside Britain and plans to capitalise on a dearth of pan-European rivals to grow its share of markets such as Spain and Germany. Mr Fraser said: “We are seeing significant growth on the continent. Some of our continental businesses are growing in excess of 30-35 per cent.” The company, with key accounts that include Coca-Cola and Procter & Gamble, does not anticipate any impact from UK public sector cuts, to which it has little exposure. It currently expects low double-digit growth from domestic markets not hit by government cutbacks. Mr Fraser said Brammer, which has a market value of over £210m, would focus primarily on organic growth but also plans to keep seeking opportunities to pick up small regional players with revenues of between £4.5m and £13.5m. “We certainly need more acquisitive growth in Italy, Austria and Hungary, but we would consider any good, high-quality bolt-on acquisitions in any of the geographies that we're currently operating in,” he added. Brammer said in August that its full-year profits would at least match pre-recession levels.

(Brammer Inc.)

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