Green Compliance gets Pure Group

Green Compliance has acquired Pure Group for around £5 million.

The acquisition was for an initial consideration of £5 million, which comprised £4 million in cash, 52 million new ordinary shares and £275,000 of loan notes. A further performance related payment will be made based upon the company achieving profit targets for the year ending April 2011.

Bristol-based Pure provides water treatment and commissioning services to businesses in the leisure, commerce and industrial markets as well as to Government bodies. For the financial year ending April 2010 Pure reported sales of £4 million and net profits of £959,000. The company has net assets of £1.7 million.

AIM-listed Green Compliance is an energy services and consultancy company that has acquired six other businesses since February, the most recent being the purchase in June of fire protection business C&T Fire.

Under the terms of the deal the directors and vendors of Pure, Mark Taylor, Judith Taylor and Ben Gibson will remain with the business post completion.

John Prowse, CEO of Green Compliance, comments that the acquisition of Pure will expand Green Compliance’ geographical reach.

Nick Britton

Nick Britton

Nick was the Managing Editor for when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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