LONDON (Alliance News) - Filta Group Holdings PLC, which provides cooking oil filtration and fryer management services to commercial kitchens, has completed the acquisition of WatBio Holdings Ltd with the payment of the second and final tranche.
WatBio provides oil, fat and grease removal and sewage treatment services.
The second tranche for the acquisition includes the payment of GBP1.4 million in cash and GBP250,000 through the issue of 125,000 new Filta shares at the price of 200 pence each.
The final payment brings the total consideration paid for the acquisition to GBP6.1 million.
In mid-December, Filta said the first tranche for the acquisition would consist of GBP3.9 million in cash and GBP550,000 through the issue of 275,000 shares.
"We have been delighted with the acquisition of Watbio, and its integration into our existing business is well underway. We continue to identify further potential synergies between the two businesses, and believe there are significant opportunities to realise additional value for shareholders," said Chief Executive Jason Sayers.
Shares in Filta were up 0.6% at 237.40 pence on Thursday.