Titon Holdings (AIM:TON) announced it has acquired 100% of G-Pack Manufacturing, a designer and seller of injection‑moulded plastic components for the UK window and door hardware sector, for a headline consideration of £1m.
The company says the purchase will broaden its product offering and customer base, create selective cross‑selling opportunities and is expected to make a positive contribution to earnings in the first full financial year following completion.
"We expect to bring currently outsourced production into our Haverhill facility, improving margins and the utilisation of our existing injection moulding capability," said Tom Carpenter, Chief Executive Officer.
Under the SPA, Titon paid £0.9m to the vendors on completion on 29 May, with £0.1m held in escrow and payable 12 months after completion, and an additional £0.2m was paid in respect of excess working capital, which the company says is covered by cash inherited at completion, with the acquisition funded from Titon's existing cash resources.
For the year ended 30 November 2025 G-Pack reported revenue of £1.3m, profit before tax of approximately £0.18m, EBITDA of approximately £0.19m and net assets of £0.3m, implying an upfront price/EBITDA of c.5.3x on the £1m headline consideration (or c.6.3x including the £0.2m working‑capital payment) and a price/book of c.3.3x.
Steven Barnes will remain engaged for up to two years to support integration, and Titon expects planned operational synergies delivered over the first 36 months to reduce the effective EV/EBITDA to under 2.5x.
