LONDON (Alliance News) - Premier Technical Services Group PLC Wednesday said it has completed the acquisition of Langston Jones for GBP700,000.
Langston Jones is an electrical safety testing company based in the West Midlands. In the year ended March 31, it made a pretax profit of GBP100,00 and revenue of GBP1.0 million.
Premier Technical said it inherited cash balances of GBP400,000 at completion.
"This is a highly complementary acquisition, which instantly expands the group's client base into new geographical territories and provides another key office location, the West Midlands, from which to grow our business. Langston Jones also brings additional expertise and knowledge to our existing portfolio of electrical testing services with its bias towards Portable Appliance Testing, whereas PTSG's focus has historically been on Electrical Installation Testing," Chief Executive Paul Teasdale said in a statement.
Shares in Premier Technical were trading up 1.1% at 95.50 pence Wednesday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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