Eleco has bought the Swedish company Lubekonsult for up to £380,000.

Construction industry supplier Eleco has bought the Swedish company Lubekonsult for up to £380,000.

The acquisition was made through Eleco’s Swedish software subsidiary Consultec Byggprogram. Under the terms of the deal an initial payment of around SeK1.8 million (£160,000) will be followed by a deferred performance related sum of up to SeK2.5 million over the next two years.

Stockholm-based Lubekonsult was founded in 1984 and provides cost estimation software to customers in the Swedish ventilation market. In 2009 the company declared a net profit of around £90,000 on a turnover of £550,000.

Eleco is based in Hertfordshire and provides building products and computer software to the construction industry. The company’s products include precast concrete and metal roofing as well as design and project management computer software. In 2009 Eleco made a loss of around £1.5 million on a turnover of £70.6 million.