Xtek has acquired U.S. based HighCom Armour Solutions on a 2.6x EV/EBITDA multiple (excluding a future potential earn-out component).
Key U.S. staff and personell of the HighCom Armour Solutions business has been retained. It is therefore expected that the HighCom Armour Solutions business will serve as a launch pad for the commercialisation of XTClave into the lucrative U.S. body armour market.
“Following the completion of the HighCom acquisition, we look forward to our next stage of growth as we expand our business into the lucrative US market. We have acquired a profitable business with highly complementary products and a strategic network in place. This greatly accelerates our ballistic solutions strategy and provides us with high quality distribution network which we can leverage to provide a full range of products.”
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