26th Jun 2014 06:55
LONDON (Alliance News) - HML Holdings PLC Thursday said it has acquired PG Ashton Property Management Company Ltd, a property management business based in Romford, Essex, in a deal worth GBP463,000 in cash.
HML said the transaction includes an additional performance-related retention payment of GBP93,000 which will, subject to the achievement of certain criteria, be paid in 12 months time.
PG Ashton, which was founded in 1989 to provide lettings and block management property services, reported revenue of GBP386,000 in its most recent financial year.
HML said the acquisition is expected to be immediately earnings enhancing.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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