26th Oct 2005 16:42
Bioquell PLC26 October 2005 TO: CITY EDITORSFOR IMMEDIATE RELEASE 26 October, 2005 BIOQUELL PLC Acquisition by Cape of two specialist testing service businesses BIOQUELL PLC, the UK leader in specialist bio-decontamination technology andtesting services, today announces the acquisition of two testing servicesbusinesses. * Cape Engineering (UK) Limited ("Cape") is a wholly owned subsidiary of BIOQUELL PLC ("BIOQUELL"). Cape and its subsidiaries carry out a range of specialist testing, including electromagnetic compatibility ("EMC") and telecoms testing * Two subsidiaries of Cape have today purchased the businesses (comprising the assumption of the employment contracts and the purchase of the fixed assets and goodwill) of Laboratory Accreditation Services Limited ("KTL"), which trades as KTL, and TRL Compliance Services Limited ("TRL") * KTL carries out telecoms, EMC and safety testing services, principally for international telecoms groups and digital hardware suppliers * TRL carries out EMC, safety and calibration testing services, principally for international defence and aerospace groups * KTL's and TRL's businesses are highly complementary to the testing services already provided by Cape * For the year ended 31 March 2004 (the latest date for which audited accounts have been drawn up), KTL and TRL had combined revenues of £4.4 million and profits before tax of £0.2 million * The consideration paid for the acquisitions is £321,000 which has been funded out of the Group's existing financial resources Commenting on the acquisitions, Nick Adams, Chief Executive of BIOQUELL, said: "Cape has known and worked closely with TRL and KTL for some years - andtogether the three businesses are able to offer a broad range of specialisttesting services to a wide range of customers, including in the fast expandingoutsourcing field. Many of the testing services provided by TRL and KTL aredriven by regulation - and in most cases we anticipate that these regulationswill become more onerous which will assist the growth of these businesses. Wehad a unique opportunity to buy the businesses at an attractive price and thisacquisition should significantly increase the revenues and profitability ofCape, BIOQUELL's testing services division." Enquiries Nick Adams BIOQUELL PLC 01264 835 900Mark Bodeker Emma Kane Redleaf Communications 020 7955 1410 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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