Tandem to pay extra £0.3m after finalising ESC deal

(ShareCast News) - Sports leisure company Tandem Group said it has finalised the terms for the acquisition of Airwave, Windbar, Jack Stonehouse and Carpzone brands operator ESC.As result of the purchase, the London-listed group said it will have to pay a further £300,000 as initial consideration, having previously indicated it would make a £2.1m upfront payment followed by a further payment worth up to £750,000 to be made over the next 12 months based on ESC meeting profit targets.In the 10 months to 1 September, ESC posted revenue of £6.3m and profit of £0.8m, while net assets were £1.8m.Tandem Group shares were up 7.61% to 178.90p at 1039 BST on Thursday.