Regions

Protective equipment manufacturer Ansell Ltd has completed the acquisition of American firm BarrierSafe Solutions International. The said transaction is valued at $615 million (A$692.29 million), according to Business Spectator.

On November 25, Ansell announced that it had inked an agreement to purchase the disposable gloves and protective footwear maker from Odyssey Investment Partners and others, the report said.

In a statement, Ansell said of the deal: "With the acquisition, Ansell further expands its position in the hand protection market in North America and continues to implement its strategy to create shareholder value through organic and acquisition driven growth."

According to Ansell, the acquisition and other transaction costs would be financed through a $300-million committed debt facility. The company also said it would raise new equity through a A$338-million fully underwritten private placement. In addition, the firm would use a portion of its $100-million non-underwritten share purchase plan (SPP) for the acquisition, Business Spectator reported.