Digg
Del.icio.us
Newsvine 
Facebook
Stumbleupon
The BSS Group has acquired UGS Ltd from family shareholders for a consideration of 5.1m.
UGS is a leading specialist distributor of below ground drainage and civils equipment to specialist contractors trading from 10 branches giving nationwide coverage.
For the 12 months ended 31 December it had revenues of 36.4m and reported a loss of 0.04m.
BSS Group chief executive Gavin Slark said the acquisition would enhance its capability to service the broader drainage market - above and below ground.
He added: "We see the area of drainage and water management as having significant growth potential in the coming years as infrastructure is upgraded and maintained.
"The business requires some repositioning and as a result it is expected to be earnings neutral in the year to March 2011.
"From that point onwards we anticipate UGS will be earnings enhancing".
Story provided by Business Financial Newswire
Shares in British banks rose on the FTSE 100 in morning trading following positive news on the Greek debt crisis.
Unite, the union, has gone to international unions, in its attempts to bring the...
© 2010 The IBTimes Company Ltd. All Rights Reserved.
Partners 
EMAIL
PRINT
RSS
SHARE
