30th Oct 2015 07:49
LONDON (Alliance News) - Premier Technical Services Group PLC Friday said it has acquired lightning protection and earthworks systems company JW Gray for a total of GBP1.1 million.
Premier Technical, the "niche specialist services provider", said JW Gray is based in Essex and reported revenue of GBP1.6 million and a pretax profit of GBP200,000 in the last financial year. Premier Technical will also inherit JW Gray's cash balance of GBP100,000.
Adam Bateman, managing director of JW Gray, will continue in his current role to grow and expand its operations, which will be integrated into Premier Technical's Electrical Services Division. The previous owners of JW Gray are retiring.
"We are very pleased to welcome JW Gray, a long established and respected lightning protection business with a significant presence in the M25 ring and London in particular, to the Premier Technical group of companies. The acquisition provides a new office for the group in the South East and strong foundations from which to continue our expansion into the key London market," said Chief Executive Paul Teasdale.
By Joshua Warner; [email protected]; @JoshAlliance
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