11.07.2013

Mills disposes of Industrial Services

Brazilian scaffolder and access rental company Mills has reached an agreement to sell its Industrial Services business FIP Leblon Equities Partners V, for R102 million ($45 million) in cash. The sale is subject to the fulfilment of certain conditions, including the approval by governmental authorities.

The Industrial Services operation had an EBITDA of R19.5 million ($8.6 million)in the 12 months to the end of March representing just over five percent of Mill’s total EBITDA.

The company said: “the sale of the Industrial Services business unit is aligned with our strategy to focus on businesses in which our competencies are able to add higher value for shareholders and clients.”