29th Mar 2021 17:35
React Group PLC - South Derbyshire-based cleaning, hygiene and decontamination - to acquire Fidelis Contract Services Ltd, a Birmingham-based commercial cleaning, hygiene and facility support services firm for up to GBP4.8 million in cash and shares.
React will pay an initial GBP1.7 million, then make deferred consideration payments of up to GBP3.1 million, dependent on Fidelis's financial performance for the 2021 and 2022 financial years.
Acquisition is expected to be immediately earnings enhancing and deliver a sharp increase in the scale of the group's offering.
Current stock price: 2.06 pence
Year-to-date change: up 55%
By Dayo Laniyan; [email protected]
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