(Alliance News) - Aquila Services Group PLC said Friday it has acquired Finalysis, a consultancy business which provides treasury and banking services for GBP130,000.
Aquila will pay GBP100,000 in cash and GBP30,00 through the issue of 85,714 new shares at a price of 35 pence per share.
Finalysis will be integrated into the Aquila Treasury & Finance Solutions unit, and will increase the group's offer to the higher and further education sectors, as well as expand its client base and range of services.
"The acquisition sees Aquila Services Group extend our offering in the wider education sector and therefore helps us fulfil our vision of making a real difference to communities, housing, regeneration and people's lives in the UK and beyond," said Chief Executive Officer Steve Douglas.
"We are thrilled that the experienced team at Finalysis have chosen to become a part of the group and lead our work across treasury and finance in the higher and further education sectors. We look forward to further collaboration and growth between the group's subsidiaries, in order to build on our track record in supporting organisations to grow, change and be resilient," Douglas added.
Shares in Aquila Services closed untraded on Friday in London, last quoted at 31.50 pence.
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
