Cantel Medical to acquire BHT Group in Germany for about $60.8M
Cantel Medical announced that it entered into a definitive agreement to purchase BHT Hygienetechnik Holding, the German market leader in automated endoscope reprocessing and related equipment and services and flexible endoscope repair, for a cash purchase price of approximately $60.8M on a cash-free and debt- free basis. For the trailing twelve months ending May 31, 2017, BHT Group reported revenues of $24.5M. Cantel anticipates the acquisition to be accretive to non-GAAP earnings per share in the fiscal year ending July 31, 2018 and beyond, and accretive to GAAP earnings per share in the fiscal year ending July 31, 2019 and beyond. The BHT Group has nearly 100 employees and a broad commercial sales and service organization as well as manufacturing and engineering, R&D and associated support functions to drive the business. Subject to customary closing conditions, Cantel expects the transaction to close at the end of August 2017.