Updates

Scapa - Buys US adhesive-backed woundcare manufacturer

March 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

We did a full write up on Scapa in the November issue at 47p. No complaints with the share price performance so far although due to an oversight we omitted covering Scapa's latest acquisition, which was announced a couple of days before Christmas. This is the first major acquisitive move by the new management team led by Heejae Chae, who became chief executive in November 2009 and it adds significant mass to Scapa's medical arm. Last year, the medical arm accounted for Â£33.8m of Scapa's sales (or 18%) and the acquisition of Webtec this month increases that by almost 50%.Webtec is a Tennessee-based contract manufacturer of advanced adhesive-backed woundcare products. Scapa is paying an initial US$30m with two deferred payme ...

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CML

Renold

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