8th Jan 2020 10:20
(Alliance News) - HML Holdings PLC said Wednesday it has acquired Worthing-based property management services firm Leasehold Management Ltd for up to GBP438,000.
The property management, insurance and ancillary services provider said Leasehold Management will be integrated into HML over the coming months, with all employees remaining with the business, aside from founder Peter Ballam who will retire.
The GBP438,000 consideration includes performance-related retention payment of up to GBP88,000 in total, which will be subject to the achievement of certain targets and will be payable 12 months and 24 months from the acquisition date, which was Tuesday.
"The acquisition is in line with the group's strategy of acquiring leasehold management businesses that can quickly be integrated into the group and that provides further regional coverage. We are pleased to welcome all the team at LML into the HML Group," said Chief Executive Alec Guthrie.
Shares in HML were up 3.0% at 34.0 pence on Wednesday in London.
By Dayo Laniyan; [email protected]
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