11 Nov 2015 07:00
11 November 2015
Premier Technical Services Group PLC
("PTSG" or the "Company")
Acquisition of R Langston Jones and Company Limited ("Langston Jones")
Geographical Expansion of Electrical Testing Division
PTSG, the niche specialist services provider, is pleased to announce that on 10 November 2015 it completed the acquisition of Langston Jones, a specialist electrical safety testing company based in the West Midlands with clients across the UK, for a total consideration of £0.7m, payable in cash on completion.
The unaudited revenue of Langston Jones for the year ended 31 March 2015 was £1.0m, producing a profit before tax of £0.1m. The unaudited net assets at 31 March 2015 were £0.5m.
PTSG inherited the cash balances of Langston Jones at completion, totalling circa £0.4m.
The senior management team of Langston Jones will continue in their roles to develop and expand the business, which will be integrated into PTSG's Electrical Services Division. The previous owner of Langston Jones is retiring.
Paul Teasdale, CEO of PTSG, said:
"We are very pleased to welcome Langston Jones to the PTSG group of companies. This is a highly complementary acquisition, which instantly expands the Group's client base into new geographical territories and provides another key office location, the West Midlands, from which to grow our business. Langston Jones also brings additional expertise and knowledge to our existing portfolio of electrical testing services with its bias towards Portable Appliance Testing ("PAT"), whereas PTSG's focus has historically been on Electrical Installation Testing ("EIT")."
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 300 people across twelve 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.