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Brambles Limited (ASX:BXB) is set to expand its specialist containers business through the $US545 million acquisition of UK-headquartered Ferguson Group.
The pooling solutions company says Ferguson Group provides services to the offshore oil and gas sector and is a very strong fit for Brambles.
CEO Tom Gorman believes the acquisition is consistent with the company’s strategy of diversifying in segments with strong equipment-pooling and growth characteristics.
Mr Gorman says Ferguson Group provides a platform for further expansion of Brambles’ containers offering in the oil and gas sector.
The acquisition is expected to be underlying earnings per share accretive from FY15 and will be funded from existing committed debt facilities.
Brambles reported a net profit of $1.34 billion in the full 2014 financial year.
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