Green Compliance has acquired the fire protection business C&T Fire for £550,000.
Green Compliance has acquired the fire protection business C&T Fire for £550,000.
Under the terms of the deal, an additional payment of £50,000 will be paid by Green Compliance if C&T Fire’s revenue for the year ending March 2011 exceeds £525,000. Green Compliance says that £350,000 of the initial consideration for the acquisition was funded by a drawdown on its loan facility with HSBC.
Green Compliance is an energy services and consultancy firm which ensures businesses meet EU energy performance and carbon reduction requirements. This deal follows the acquisitions by Green Compliance in May of Professional Fire Solutions and Mayfair Fire Protection.
West Sussex-based C&T Fire provides fire protection services through the sale, service and maintenance of fire extinguishers, and the sale includes the goodwill, business and assets of the company. The principal partner at C&T fire, Roy Calvert, will remain on as a consultant for a period following the acquisition. For the year ending March 2010, the company generated sales of £553,000 and EBITA (earnings before interest, tax and amortisation) of £140,000.
John Prowse, CEO of Green Compliance, says: ‘C & T Fire is a well established and profitable fire protection business with a strong client base in the South East. The acquisition of the business fits well with our recent acquisitions in the sector and both extends our geographic footprint and provides synergy opportunities with our existing businesses.’
