LONDON (Alliance News) - Residential property management and insurance company HML Holdings PLC Monday said it has bought Bath-based property management business Chilton Estates Management for GBP545,000 in cash, a deal it expects to boost earnings immediately.
The deal includes an extra performance-related retention payment of GBP141,000 which will be made in two years time if certain performance targets are met.
Chilton Estates makes annual revenues of approximately GBP433,000 and normalised earnings of GBP100,000, HML said in a statement. It provides property management services to approximately 2,000 residential units in the Bath area.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
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