Premier Technical Services Grp PLC Acquisition of Nimbus Lightning Protection Limited (1846U)
January 16 2017 - 1:00AM
UK Regulatory
TIDMPTSG
RNS Number : 1846U
Premier Technical Services Grp PLC
16 January 2017
16 January 2017
Premier Technical Services Group PLC
("PTSG" or the "Company")
Acquisition of Nimbus Lightning Protection Limited
("Nimbus")
Expansion of Lightning Protection Division
PTSG, the niche specialist services provider, is pleased to
announce that on 13 January 2017 it completed the acquisition of
Nimbus, a designer, installer and maintainer of lightning
protection and earthing systems based in Nottingham, for a total
consideration of GBP1.0m, payable in cash on completion.
The unaudited revenue of Nimbus for the year ended 31 December
2015 was GBP1.4m, producing a profit before tax of GBP0.3m. The
unaudited net assets at 31 December 2015 were GBP0.3m.
PTSG inherited the cash balances of Nimbus at completion,
totalling c. GBP0.1m.
Directors Darren Stapleton and Lisa Mucznik will continue in
their current roles to grow and expand its operations, which will
be integrated into PTSG's Electrical Services Division. The
remaining previous owners of Nimbus are retiring.
Paul Teasdale, CEO of PTSG, said:
"We are very pleased to welcome Nimbus, a long established and
respected lightning protection business with a significant presence
in the Midlands, to the PTSG Group of companies. The acquisition
provides additional capabilities to the Group, including an
attractive testing and inspection base, as well as its installation
activities from which PTSG will continue to enhance its market
leading offering."
For further information, please contact:
PTSG +44 (0)1977 668 771
Paul Teasdale, Chief Executive Officer
Numis +44 (0)20 7260 1000
Stuart Skinner
Kevin Cruickshank
Michael Burke
Hudson Sandler +44 (0)207 796 4133
Cat Valentine
Jocelyn Spottiswoode
About PTSG - www.ptsg.co.uk
Premier Technical Services Group PLC is the UK's leading
provider of façade access and fall arrest equipment services,
lightning protection and electrical testing, high-level cleaning
and training solutions.
Operating through four divisions, Access & Safety,
Electrical Services, High Level Cleaning and Training Solutions,
the Group provides highly-engineered industrial products and
quality services and has a substantial presence in a number of
niche markets.
PTSG provides a central information service for its businesses
and champions the dissemination of key information and best
practice. PTSG unites its constituent businesses under one clear
identity, which supports smarter working and delivers top class
service to its customers.
Headquartered in Castleford, West Yorkshire, the Group employs
more than 450 people across 16 UK sites, who service more than
150,000 buildings across the whole of the UK for over 12,000
customers in a wide range of industries.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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