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Last checked at 
8 Oct 2015 07:00
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Tandem Group plc
(the "Company")
Acquisition update
Further to the announcement of 2 September 2015, the Board of Tandem Group plc (AIM: TND), designers, developers and distributors of sports, leisure and mobility equipment, announces that completion accounts for the acquisition of E.S.C. (Europe) Ltd ("ESC") have been finalised.
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The completion accounts show that ESC's net assets were Β£1.8 million on 1 September 2015. For the 10 month period ended 1 September 2015, turnover was Β£6.3 million and net profit was Β£0.8 million.
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As part of this process the unaudited statutory accounts for the year ended 31 October 2014 have been verified which showed net assets of Β£1.1 million and net profit for the year of Β£0.5 million.
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In accordance with the share purchase agreement additional initial consideration of Β£0.3 million is payable by the Company.
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Enquiries:
Tandem Group plc
Steve Grant, CEO
Jim Shears, Group Finance Director and Company Secretary
Telephone 0121 748 8075
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Nominated Adviser
Cairn Advisers LLP
Tony Rawlinson
Telephone 020 7148 7901
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8 October 2015
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