Interior Service acquires Alpha

Construction firm Interior Service group has completed the acquisition of the business assets of the French branch of Alpha International SARL for an initial consideration of £1.5m. A maximum further consideration of around £5.9m is payable after the two financial years to 30 June 2013, depending on the performance of the business during that period. Alpha's turnover for the year ended 31 October 2010 was around £6.5m and generated a contribution of approximately £0.2m. The firm has net assets of approximately £0.4m at completion and employs 20 people.In a statement, ISG said the acquisition will enable it to accelerate the growth of its existing European retail fit out business, and further strengthen its management team with people who have a successful retail design and fit out track record in Europe.Chief executive David Lawther said: "The Alpha acquisition is a key part of our continuing international expansion strategy and we are delighted to have acquired this capability within ISG. The acquisition will widen our international retail client base and provide a broader retail service offering to our clients in Europe."