AIM-quoted Lonrho is acquiring camp services provider AFEX for $3m plus performance-related deferred consideration of up to $7m. The deferred payment is based on 1.8 times EBITDA over the next two years. In 2009, AFEX made a pre-tax profit of $1.57m on revenues of $15.9m. House broker Panmure Gordon believes there were one-of contracts included so revenues are likely to be lower in 2011. AFEX owns and manages secure accommodation based in Kenya and Juba, Southern Sudan and it provides catering and other services. The purchase complements Lonrho's Kwikbuild business. Lonrho will be able to offer fully supported camp solutions to multinational organisations and it will be more competitive in tendering for contracts. Panmure Gordon has added £6m to its 2011 revenue forecast. The profit forecast is unchanged at £13.2m.