Skellerup acquires Nexus Foams

Skellerup announced today it has acquired the business and assets of Nexus Foams Limited (Nexus). The acquisition price is approximately $6.5 million and will immediately be earnings accretive to the Skellerup Group. Nexus is a supplier of high-performance foam and soft material components based in Auckland. Skellerup Group CEO David Mair said, "The acquisition is a natural fit for Skellerup, as it complements our Ultralon foam range which is principally used in marine, sporting and orthotic products. Nexus has a leading market position supplying custom foam products for health, electronics, appliance, construction and comfort applications. Nexus has long established relationships with key international customers and suppliers." The transaction is due to close on 30 April 2019. For further information please contact: David Mair Chief Executive Officer 021 708 021 Graham Leaming Chief Financial Officer 021 708 021 End CA:00333740 For:SKL Type:TRANSACT Time:2019-04-29 09:49:33