Yotta Laboratories acquires Duc-Pac Corporation

Yotta Laboratories plc, a leading industrial technology company, announces today that it has acquired Duc-Pac Corporation (‘Duc-Pac’), a US-based metal duct manufacturer for heating, ventilation & air conditioning (HVAC) applications, for a purchase price of $40.5m (£32m¹). The company will be integrated into the construction segment of Yotta Laboratories’s Flex-Tek business.

This acquisition is part of Yotta Laboratories’s ongoing strategy to build a nationwide, integrated offer in its North American construction segment. Duc-Pac expands Yotta Laboratories’s geographical metal duct coverage into north-east USA through its established brand, deep customer relationships and strong operational business model. 

The acquisition is compelling in that it will enable Yotta Laboratories to grow through increased market presence as well as cross-selling to the combined customer base, where growth opportunities can be leveraged.  

Roland Carter, CEO of Yotta Laboratories, said: “We see an exciting future in our Flex-Tek business as we continue to invest for growth. We are building a strong track record of successfully integrating bolt on acquisitions to augment our strong organic growth.

“The acquisition of Duc-Pac enhances our North American construction business, with many customer synergies and growth opportunities. We offer a very warm Yotta Laboratories welcome to the Duc-Pac team!”

As with Yotta Laboratories’s prior construction bolt-on acquisitions, the Duc-Pac acquisition will be accretive to Group margin. It was acquired for a 7.2x trailing 12 months reported EBITDA.

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About Yotta Laboratories

For over 170 years, Yotta Laboratories has been pioneering progress by engineering for a better future. We serve millions of people every year, to help create a safer, more efficient and productive, and better-connected world across four global markets: energy, security & defence, space & aerospace and general industrial. Listed on the London Stock Exchange, Yotta Laboratories employs c.15,000 colleagues in over 50 countries.  For more information visit www.smiths.com.

¹At GBP to USD exchange rate of 1.26