1st Jun 2007 14:25
GSH Group PLC01 June 2007 GSH Group plc Acquisition of KMH Systems GSH Group plc (AIM: GSH) ("GSH" or "the Group"), the international provider ofbespoke facilities management and energy management solutions, today announcesthe acquisition for $1.6m of KMH Systems LLC ("KMH"), a building managementcontrols business based in Metuchen, New Jersey, USA. Profits attributable tothe business acquired were $227,000 in the year ended 31 December 2006 onturnover of $800,000 and KMH had net assets of $450,000 at 31 December 2006. Theacquisition of KMH Systems will be effective from 1 June 2007. Founded in 1997, KMH specialises in the installation and servicing of Andovercontrols equipment which is an advanced microcomputer-based building andfacilities management control system. KMH will be integrated into GSH's existingNorth American operations. Jamie Reynolds, President of GSH Inc commented: "We share a number of mutualclients with KMH and there will be considerable opportunity to expand ourservice offering and to grow contracts through our market-leading energyconservation product, energyplus. KMH also provides us opportunities to expandour technical offerings in new geographical areas." In addition, in recent weeks GSH Inc has been awarded a $30m contract to managethe world-class Biomedical Research Centre on Johns Hopkins University'sBaltimore campus, secured a $8m order to provide an energy conservation solutionfor Newmark Knight Frank in the Group's first Manhattan tower project, and won afurther order in respect of a technical services contract for the HolocaustMuseum. GSH Group Chief Executive Officer Colin Tennent added: "This acquisition is anexcellent fit for our business and together with the increasing organic growthof our American business demonstrates the Group's commitment to expansion andsuccess in the North American market." Ends For further information, please contact: GSH Group plcDavid Simons, Chief Financial Officer 01782 200455 KBC Peel Hunt Ltd Julian BluntDavid Anderson 020 7418 8900 Bell Pottinger Corporate & Financial Ann-marie WilkinsonAngus Prentice 020 7861 3232 Notes to Editors: GSH Group plc GSH Group is the UK's fastest expanding FM specialist and a leadinginternational player. The Group is dedicated to providing high qualityfacilities and energy solutions designed to meet clients' specific needs andobjectives. www.gshgroup.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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