2nd Oct 2015 07:00
LONDON (Alliance News) - Niche specialist services company Premier Technical Services Group PLC on Friday said it has acquired UK-based Integral Candles Ltd for up to GBP4.0 million.
Premier Technical will pay an upfront GBP1.2 million for the company, with a further GBP2.8 million in redeemable loan notes.
The upfront payment will comprise GBP825,000 in cash and the issue of 500,000 shares in Premier Technical, which would be priced at around 66.6 pence. Shares in Premier Technical closed at 84.5 pence on Thursday.
"We are delighted to welcome Integral as the latest addition to the PTSG Group of companies. The acquisition increases our market share of the cradle installation market, bringing us closer to our goal of being the UK's leading cradle installation business, and is a good strategic fit with our existing business, which is strong in the regions whilst Integral is strong within the M25 ring," said Premier Technical Chief Executive Paul Teasdale.
By Sam Unsted; [email protected]; @SamUAtAlliance
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