LONDON (Alliance News) - Investment company CEPS PLC on Monday said it has acquired a 55% stake in RAM (10003) Ltd, a newly-created vehicle formed to acquire Hickton Consultants Ltd.
CEPS will invest GBP670,000 in the new company, which will then acquire the consultancy. The total consideration for Hickton will be GBP2.0 million, comprising GBP1.35 million upfront and a further GBP650,000 over four years based on the company hitting certain targets.
South Yorkshire-based Hickton provides Clerks of Works services to the construction industry, working on quality assurance projects for larger-value deals in the UK.
CEPS said the acquisition fits with its strategy of buying profitable, high-margin, niche businesses.
CEPS shares were untraded early Monday, having last traded at 53.80 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Ceps (CEPS)