AcquisitionsJun 26, 2026, 04:37 PM
H.B. Fuller to acquire AMS for £715M; expects $55M run-rate synergies
AI Summary
H.B. Fuller Company announced a recommended cash offer to acquire Advanced Medical Solutions Group plc (AMS) for an implied enterprise value of approximately £715 million, or 285 pence per share. The acquisition aims to extend H.B. Fuller's capabilities in medical adhesive technologies, expand its total addressable market by $15 billion to $95 billion, and enhance its commercial, R&D, and manufacturing footprint. H.B. Fuller expects to achieve approximately $55 million in run-rate revenue and cost synergies by 2031 and plans to rapidly deleverage within two years post-acquisition, which is expected to close by the end of 2026.
Key Highlights
- H.B. Fuller to acquire Advanced Medical Solutions Group plc (AMS).
- Cash offer of 285 pence per AMS share, valuing AMS at £659 million.
- Implied enterprise value of AMS is approximately £715 million.
- Expected to deliver approximately $55 million in run-rate synergies by 2031.
- Acquisition to increase H.B. Fuller's Total Addressable Market by $15 billion to $95 billion.
- AMS expected to add approximately $300 million to H.B. Fuller's annual revenues.
- Transaction to be fully financed through 100% committed financing.
- Company targets deleveraging to 2.5x-3x within two years post-acquisition.
- Transaction expected to close by the end of calendar year 2026.
Price Impact
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