21st May 2024 16:56
Wickes Group PLC - Watford, England-based building supplies retailer - Completes acquisition of majority stake in Solar Fast. Says it has received FCA approval.
In March, Wickes agreed to buy a majority 51% stake in Gas Fast Ltd, the Castleford, England-based parent company of solar installations firm Solar Fast. The stake has been bought from the company's founders, and Founder & Chief Executive Officer David Draper will continue to lead it. Wickes has the option to buy the remaining 49% over the next five years.
Solar Fast had pretax profit of GBP3.9 million in the financial year that ended April 30, 2023, on revenue of GBP33.1 million. Over 2022 and 2023, Solar Fast installed more than 3,700 solar projects in customer homes, Wickes said.
Current stock price: 144.04 pence
12-month change: up 9.3%
By Sophie Rose, Alliance News senior reporter
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.