Carbon credit specialist Camco International plans to expand its projects in the UK and the US after acquiring Bradshaw Consulting. The deal could be worth almost £1.5 million if profit targets are achieved.

The terms of the agreement include some £1 million paid on completion: £725,000 in cash and the balance in shares. Camco may pay a further £475,000 over the next three years, conditional upon performance. The acquired business continues to be led by managing director Clifford Bradshaw.

Jersey-registered Camco works with companies in the developing world to establish greenhouse gas reduction projects. It has 70 such projects underway in regions including Eastern Europe, Africa, China and Russia, which are expected to deliver 118.8 million carbon credits by 2012.

Bradshaw develops software that helps companies manage and report on their carbon emissions across a range of geographic locations. It also works on government energy efficiency programmes. In the year to March 2007, Bradshaw made a pre-tax profit of some £200,000 from a turnover of £714,000.