Tarkett Completes Acquisition of Lexmark
Paris, FR, October 1st, 2018-Tarkett has completed the acquisition of Lexmark Carpet Mills.
Paul Cleary, CEO of Lexmark, will join Tarkett as president of the hospitality business for North America.
Lexmark produces carpet, primarily for the North American hospitality market, and is recognized among hospitality chains for its products and services. The company achieved approximately $120 million in sales in 2017, employs 460 people and operates one plant in the U.S.
The addition of Lexmark to the North America division enables Tarkett to establish a robust hospitality business that leverages both companies’ broad product portfolios.
The acquisition will be immediately accretive to Group EBITDA margin up to +50bps after synergies on a full year basis. The transaction will be financed with an existing credit facility. On a pro-forma basis, Tarkett expects its leverage ratio to remain below 2.5x Adjusted EBITDA at the end of the year.