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Prices & Quotes - UK Markets - Hill & Smith Holdings (HILS)

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Share Price:
Up 1,384.00p
Change Today:
18.00p
Market Cap:
1,099.99m
Sector:
Industrial Engineering

Hill & Smith buys up bollard maker ATG Access

By Josh White

Date: Friday 22 Feb 2019

LONDON (ShareCast) - (Sharecast News) - Construction products group Hill & Smith Holdings announced on Friday that it has completed the acquisition of ATG Access from LDC and private shareholders, for a cash consideration of 22.5m on a debt and cash free basis.
The FTSE 250 company said the consideration was being funded from its existing bank facilities.

It said ATG, based in the UK and exporting to more than 30 countries, specialised in the development, manufacture, and installation of hostile vehicle mitigation perimeter security solutions including bollards - automated, static, impact and non-impact tested - road blockers, barriers and gates.

Representative of ongoing trading, in the unaudited 12 months to 31 October, ATG recorded turnover of 21.1m, adjusted EBITDA of 2.5m, and had net operating assets, on a debt and cash free basis of 0.6m.

The acquisition was expected to be earnings-enhancing to Hill & Smith in the first full financial year following acquisition.

"ATG provides high security and traffic management solutions and is the UK's leading manufacturer of bollards, road blockers and vehicle barrier systems," said Hill & Smith group chief executive Derek Muir.

"The acquisition provides the group with a strong platform to introduce new products and new geographies, thereby accelerating the expansion of both our existing UK and international roads businesses.

"We are excited to welcome ATG and its employees to the group."

The company also announced that in January, it amended and extended its principal debt facility, extending the term to January 2024 and increasing the tenor by 50m to c.280m, with no material impact on costs.

Hill & Smith Holdings said the financial covenants on the syndicated revolving credit facility remained unchanged.

The amendment provided the group with extended certainty of funding, the board said, and further increased the headroom available to it in order to pursue growth opportunities.

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HILS Market Data

Currency UK Pounds
Price 1,384.00p
Change Today 18.00p
52 Week High 1,510.00p
52 Week Low 901.00p
Volume 63,169
Shares Issued 79.48m
Market Cap 1,099.99m

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What The Brokers Say

Strong Buy 4
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 5
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

HILS Dividends

  Latest Previous
  Interim Interim
Ex-Div 03-Dec-20 28-Nov-19
Paid 08-Jan-21 03-Jan-20
Amount 9.20p 10.60p

Trades for 04-Dec-2020

Time Volume / Share Price
16:35 29,231 @ 1,384.00p
16:29 39 @ 1,374.00p
16:29 125 @ 1,376.00p
16:29 10 @ 1,382.00p
16:29 15 @ 1,382.00p

HILS Key Personnel

Chair Alan Giddins
CFO Hannah Nichols