Ansell to Purchase BarrierSafe Glove Maker for $615 Million
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Ansell Ltd., the maker of Hyflex industrial gloves, agreed to buy BarrierSafe Solutions International for about $615 million, bolstering sales of hand protection products in North America.
The acquisition from Odyssey Investment Partners and others is subject to U.S. antitrust clearance and is expected to be completed in the first quarter of 2014, Melbourne-based Ansell said in an e-mailed statement today. The purchase will be funded by a $300 million debt facility and the sale of new shares through a private placement of A$338 million ($308 million) and a share purchase plan of as much as A$100 million.