News

Chloride Acquires Coalba Energia SA

October 22, 2006 by Jeff Shepard

Chloride Group PLC announced the acquisition of Coalba Energia SA (Cener), a leading critical power protection company in Spain, for a cash consideration of £6.0 million (€9.0 million) of which £0.7 million (€1.0 million) is linked to performance over the next 12 months.

Established in 1982, Cener is a leader in the Spanish power protection market focusing on the retail, IT, telecoms, financial services and manufacturing sectors. Its market focus, extensive service network, and complementary customer base fit well with Chloride's existing Spanish business, and offers significant opportunities to drive sales of Chloride's UPS systems and service solutions. This acquisition will significantly enhance Chloride's market presence in Spain, where Chloride's existing business together with Cener are expected to be market leaders in critical power protection solutions.

Commenting on the announcement, Keith Hodgkinson, Chief Executive, said "The acquisition of Cener is a further step in our strategic development as a total solutions provider, and enhances our position as a market leader in Spain and Europe. Cener is an excellent fit for Chloride, and I am confident that our offering will represent the best choice for customers in the important and growing Spanish market."