14th Sep 2015 06:58
LONDON (Alliance News) - Asset and energy support services company Lakehouse PLC on Monday said it has agreed a GBP6.5 million deal to acquire Sure Maintenance Group Ltd.
Sure primarily provides gas servicing, maintenance and installations for social housing clients in the North of England and the Midlands. The acquisition will complement Lakehouse's existing compliance arm and its air and water business, it said.
Under the terms of the deal, Lakehouse will pay an initial GBP6.5 million to acquire Sure, with a further deferred payment of up to GBP2.4 million dependent on Sure's financial performance through to December 2016.
"Supporting the existing services of our compliance division, the acquisition will extend the geographical footprint of the group's gas business and give Lakehouse a solid platform in the North West for all its services," said Stuart Black, Lakehouse's executive chairman.
By Sam Unsted; [email protected]; @SamUAtAlliance
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