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22 Mar 2010 07:00
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Press Release |
22 March 2010 |
Brulines Group plc
(the "Company" or "Brulines")
Acquisition of Energy Level Systems
and Strategic Partnership with Indigo Retail Technology
Brulines Group plc, the market leading provider of real time monitoring systems and data management services for the UK leisure sector, is pleased to announce that it has agreed to acquire Energy Level Systems Ltd ("ELS"), the UK distributor of OPW Fuel Management Systems tank gauging solutions based in Market Harborough, from Astoncrest Consultants Limited ("Astoncrest") ("the acquisition").
The initial consideration for the acquisition of ELS, which will take effect from 6 April 2010, is £700,000 payable in cash, with further deferred consideration of a maximum of £1,350,000 payable dependent on the earnings before interest and tax ("EBIT") of ELS for the two years ending 31 March 2012.
ELS was established in December 2008 to acquire the OPW Fuel Management Systems distributorship, which it successfully achieved in February 2009. Management accounts for ELS to 31 January 2010 show that it recorded an adjusted EBIT of £59,000 on a turnover of £724,000.
Immediately prior to completion of the acquisition, ELS will acquire the tank lining, liquefied petroleum gas and forecourt services businesses of Graphite UK Ltd., also based in Market Harborough. In the year ended 31 July 2009, these businesses made an EBIT of £151,000 on a turnover of £2,501,000.
Richard Quarmby, majority shareholder of Astoncrest and former Vice President of Torex's Petrol and Convenience Division, will join Brulines' Forecourt Service Division as Business Development Director, reporting to Phil Maud, Managing Director.
Brulines aims to become a market leader in the provision of telemetry, data management, analysis, and associated software and support services to the petrol forecourt sector. This strategy has seen the successful acquisition of Edensure, a wet stock management business, in October 2008, and the appointment of Maud, who joined as Managing Director of the Forecourt Division in September 2009 from Morrisons Supermarkets, where he had previously been Director of Petrol Forecourts for eight years.
Commenting on the proposed acquisition and appointment, James Dickson, Chief Executive of Brulines, said: "This acquisition will be earnings enhancing from the outset, is another important step in developing a market leading integrated solution for forecourt operators and underlines our intention to replicate in the forecourt market our success in the leisure sector.
"I am delighted that Richard is joining the team, bringing a wealth of experience in the forecourt industry. Richard's knowledge and expertise will prove invaluable as we continue to expand our presence in the UK petrol forecourt market and beyond."
Strategic partnership with Indigo Retail Technology Ltd
Brulines is also pleased to announce today that Edensure is to enter into a strategic partnership to provide data management and analysis solutions including wet stock management for forecourt customers of Indigo Retail Technology Ltd, a leading provider of retail solutions and services. This will initially result in Edensure providing wet stock analysis for Indigo customers, which will increase the penetration of Edensure's wet stock management to 7% of all UK forecourts.
Phil Maud, Managing Director of Brulines' Petrol Forecourt Services Division said: "This acquisition sees us continue to develop our integrated solution for the forecourt industry. This offering is based on the logical link between sales and maintenance of tank gauges, our industry leading wet stock analysis technology, tank lining and other forecourt service skills".
"The relationship with Indigo is a key development for Edensure; significantly increasing the number of forecourts we are working with and providing access to a strong customer base going forward."
- Ends -
Enquiries:
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Brulines Group plc |
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James Dickson, Chief Executive |
Tel: +44 (0) 1642 358 800 |
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james.dickson@brulines.com |
www.brulines.com |
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Cenkos Securities plc |
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Stephen Keys / Camilla Hume |
Tel: +44 (0) 20 7397 8900 |
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www.cenkos.com |
Media enquiries:
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Abchurch Communications |
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Sarah Hollins / Joanne Shears / Mark Dixon mark.dixon@abchurch-group.com |
Tel: +44 (0) 207 398 7729 www.abchurch-group.com |
About Brulines
Brulines Group is focused on the provision of real time monitoring systems and data management services for the UK's leisure and petrol forecourt sectors. Since its admission to AIM in 2006, the Group has grown both organically and through a series of strategic acquisitions to give the Group access to key vertical markets. The Group operates two divisions which comprise five key products:
LEISURE DIVISION
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Dispense Monitoring (DMS) |
The Group's core product, DMS, is widely used by owners and operators within the UK licensed on-trade, especially the tenanted / leased pub sector. Flow meters connected to draught beer dispense lines send data via an on-site communication panel to a secure central database. Liquid volumes by fount, draught wine or post mix are tracked as they are served, thereby helping customers to maximise sales, service and quality as well as managing their costs . DMS is installed in over 22,000 pubs and manages data for more than one in three UK pubs.
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i-draught (formerly BQM) |
A more recent and rapidly growing product offer is i-draughtTM, an extension of the Group's DMS, which scrutinises the quality of products running through beer lines in a bar; measuring volume, temperature, flow rate and liquid type (e.g. beer, cleaning fluid or water) at the point of dispense. i-draught is the first system to provide effective measurement of true yields on draught products. Actual dispense volumes are compared with till transactions to identify shrinkage from products given away, pilferage and wastage. i-draught measures the precise temperature of every pint as it is dispensed, the time taken to dispense each drink, and automatically identifies the liquid allowing customers to know exactly when lines are cleaned. Wherever they are, customers can stay in control through accessing their information on a secure web site. |
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Gaming Machine Data Services
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The acquisition of Coin Metrics in May 2007 was a strong strategic fit with Brulines' existing Machine Insite business which already provides gaming machine data management and consultancy services to operators within the pub, club and leisure markets. Customers benefit from state-of-the-art real-time data capture and reporting systems that deliver improved machine profitability and operational security. |
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Vending Telemetry
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The Group's subsidiary Vianet is a pan-European provider of telemetry solutions and data applications to the vending industry. Vianet provides services for all vending management needs; from operations, sales, field services, national accounts to senior management.
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FORECOURT SERVICES DIVISION
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UK Petrol Forecourt Data Services |
The Group's wholly-owned subsidiary, Edensure, supplies key management information to independent, multi branded owner, and supermarket petrol forecourt operators in the UK which helps reduce loss of fuel and improve profitability. Edensure provides petrol retailers with an unrivalled level of accuracy in the monitoring and management of their wet stock, using the most sophisticated analytical techniques available worldwide. |
Headquartered in Stockton-on-Tees, Brulines employs more than 240 people.
For further information, please visit www.brulines.com
About Indigo
Indigo Retail Technology Ltd, incorporating TQIPS Ltd, provides first class retail solutions and services. The company's prime objective is complete focus and attention on customers business needs delivered by respected and active members of staff. Indigo Retail offers retailer's feature-rich and functional EPoS, management, screen media, maintenance and construction solutions to help maximise sales and profits from their outlets.
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