Brulines Group, a data management services provider for the UK leisure sector, has bought Energy Level Systems.
Brulines Group, a data management services provider for the UK leisure sector, has bought Energy Level Systems. The initial consideration for the deal is £700,000.
ELS has a management system that records fuel consumption and is used by petrol stations across the UK. Management accounts for ELS to 31 January 2010 show an adjusted EBIT [earnings before income and tax] of £59,000 on a turnover of £724,000.
Taking effect in early April, the deal involves a deferred considered of up to £1.3 million that is dependent on earnings before interest and tax for the year ending March 2012.
While the Brulines Group has an established presence as a provider of devices that monitor beer usage in pubs, the acquisition complements its existing interests in the petrol forecourt sector through Edensure, a wet stock management business that was acquired in October 2008.
James Dickson, chief executive of Brulines, says: ‘This acquisition will be earnings enhancing from the outset [and] 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.’