EANS-Adhoc: gategroup Subsidiary deSter to Acquire Helios
10.02.2012 – 07:17
-------------------------------------------------------------------------------- ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 10.02.2012 - Acquisition to strengthen innovation and sales capability, broadening the reach of deSter and Harmony products and services ZURICH, Feb. 10, 2012 -- deSter Holding BV, a subsidiary of gategroup, has reached agreement to acquire Helios Market, Product and Production Development BV, an innovative and respected global provider of onboard products and services for the airline, rail and hospitality industries. Helios' products and services are highly complementary with those of deSter and Harmony. The addition of Helios will expand the ability of the combined companies to bring innovative approaches to new customers and geographies and will provide synergies in marketing, manufacturing and supply chain solutions. Helios' revenue for 2011 is above CHF 70 million with an EBITDA margin above gategroup's and a strong return on invested capital based on Helios' unaudited financial statements. With Helios, deSter's and Harmony's combined annual revenue will exceed CHF 250 million. The transaction is subject to customary closing conditions and approvals, including clearance by competition authorities if required. The purchase price is approximately CHF 27 million, which will be funded in part from cash and a debt facility. "This transaction, which is accretive to gategroup, fully supports our business model of a comprehensive and integrated service offering," said gategroup CEO Andrew Gibson. "With this acquisition, we will leverage Helios' reputation for customer focus, flexibility and speed to market with the marketing, production and supply chain strength of our industry-leading brands deSter and Harmony to create truly world-class offerings." Helios enjoys a reputation for innovative, customer-focused design and counts among its clients some of the world's largest airlines as well as those in rapidly growing regions and the low-cost carrier sector. Its product lines include disposable and re-usable onboard equipment, plastic, metal, china and glass service ware and passenger amenity kits. The company, which is based in Amsterdam, operates an asset-light business model with manufacturing outsourced, but with control of all supply chain logistics. Jons Hensel, Chairman of Helios, said, "Being reunited with deSter and Harmony within gategroup is like coming home. Everyone at Helios looks forward to taking our collective innovation, delivery and customer service capabilities to the next level." Hensel was instrumental to the development of deSter in an earlier form. Approximately 15 years ago, Hensel and partners founded Helios as an independent company. "We are extremely excited to have Jons and his team join the company and accelerate the growth of deSter and Harmony in the coming years," Gibson said. For more detailed information, please click on the following link on the gategroup web site: http://www.gategroupmember.com/index.php?option=com_content&view=article&id=491&Itemid=228 About gategroup: gategroup is the leading independent global provider of onboard services to companies that serve people on the move. gategroup comprises the following brands: deSter, eGate Solutions, Gate Aviation, Gate Gourmet, Gate Safe, Harmony, Performa, potmstudios, Pourshins and Supplair. Shares of Zurich-based gategroup are traded on the SIX Swiss Exchange under the symbol GATE. Please visit our website at www.gategroup.com. INVITATION TO ANALYSTS AND INVESTORS gategroup CEO Andrew Gibson invites analysts and investors to participate in a telephone conference call regarding the Helios announcement. The presentation can be accessed via webcast and dial-in teleconference at 08:00 CET on Friday, Feb. 10, 2012. To listen to the live presentation via teleconference, call the dial-in number approximately 15 minutes before the start time. Once dialed in, please follow the instructions given over the phone. Direct dial-in numbers: +41 (0)91 610 56 00 (Europe) +44 (0) 203 059 58 62 (UK) +1 866 291 41 66 (USA - Toll-Free) Please note that this Q&A session is for analysts and investors only. Further inquiry note: Media, John Bronson, jbronson@gategroup.com, +41-43-812-2048, Carol Reed, creed@gategroup.com, +41-43-812-9128; or Investor Relations, Dagmara Robinson, drobinson@gategroup.com, +41-43-812-54-96 end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: gategroup Holding AG Balz-Zimmermannstrasse 7 CH-8302 Kloten phone: +41 43 812 54 96 FAX: +41 43 812 91 19 mail: invest@gategroup.com WWW: http://www.gategroupmember.com/ sector: Consumer Goods ISIN: CH0100185955 indexes: stockmarkets: Hauptsegment: SIX Swiss Exchange language: English