30 Oct 2015 07:00
30 October 2015
Premier Technical Services Group PLC
("PTSG" or the "Company")
Acquisition of JW Gray Lightning Protection Limited ("JW Gray")
Geographical Expansion of Lightning Protection Division
PTSG, the niche specialist services provider, is pleased to announce that on 29 October 2015 it completed the acquisition of JW Gray, a designer, installer and maintainer of lightning protection and earthing systems based in Essex, for a total consideration of £1.1m, payable in cash on completion.
The unaudited revenue of JW Gray for the year ended 31 December 2014 was £1.6m, producing a profit before tax of £0.2m. The unaudited net assets at 31 December 2014 were £0.4m.
PTSG inherited the cash balances of JW Gray at completion, totalling c. £0.1m
Adam Bateman, Managing Director of JW Gray, will continue in his current role to grow and expand its operations, which will be integrated into PTSG's Electrical Services Division. The previous owners of JW Gray are retiring.
Paul Teasdale, CEO of PTSG, said:
"We are very pleased to welcome JW Gray, a long established and respected lightning protection business with a significant presence in the M25 ring and London in particular, to the PTSG Group of companies. The acquisition provides a new office for the Group in the South East and strong foundations from which to continue our expansion into the key London market."
For further information, please contact:
PTSG | +44 (0)1977 668 771 |
Paul Teasdale, Chief Executive Officer
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N+1 Singer | +44 (0)207 496 3000 |
Sandy Fraser James White
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Hudson Sandler | +44 (0)207 796 4133 |
Cat Valentine Katie Matthews |
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About PTSG - www.ptsg.co.uk
PTSG is the UK's leading provider of façade access and fall arrest equipment services, lightning protection and electrical testing, high-level cleaning and training solutions.
Operating through four divisions, Access & Safety, Electrical Services, High Level Cleaning and Training Solutions, the Group provides highly-engineered industrial products and quality services and has a substantial presence in a number of niche markets.
PTSG provides a central information service for its businesses and champions the dissemination of key information and best practice. PTSG unites its constituent businesses under one clear identity, which supports smarter working and delivers top class service to its customers.
Headquartered in Castleford, West Yorkshire, the Group employs more than 280 people across eleven UK sites, who service more than 100,000 buildings across the whole of the UK for over 10,000 customers in a wide range of industries.