This website uses cookies primarily for visitor analytics. Certain pages will ask you to fill in contact details to receive additional information. On these pages you have the option of having the site log your details for future visits. Indicating you want the site to remember your details will place a cookie on your device. To view our full cookie policy, please click here. You can also view it at any time by going to our Contact Us page.

PTSG purchases BEST for £20m

04 July 2017

Lightning protection and steeplejack company BEST has been acquired by PTSG for a maximum consideration of £20m, it has been announced today.

It is funding the acquisition through a non-pre-emptive cash placing to raise gross proceeds of £15m.

PTSG has identified a number of benefits of the acquisition, including complementary georgraphic coverage through the BEST presence in Scotland and the West of the UK.

It will also drive additional operational efficiencies and opportunities for cross-selling new and existing services, the company said.

The acquisition is expected to be "immediately earnings enhancing and materially enhancing in the first full year", due to the financial health of the BEST business.

It recorded revenue growth of 12% and increased profit before tax by 18% and has "maintained attractive EBIT margins of c.20%", according to PTSG.

Chief executive officer Paul Teasdale welcomed BEST to the PTSG group:

"The highly complementary acquisition provides us with significantly increased geographic coverage, scale in installation activities and additional capabilities with an attractive testing and inspection base, all of which will enhance our market leading offering.

"We look forward to working with all the vendors of BEST who will remain in the business following the acquisition," said Mr Teasdale.

PTSG currently employs more than 450 people around the UK, servicing over 150,000 buildings for 12,000 customers in a wide range of industries.

Following the doubling of its share prices in the last two years, the company says it sees "huge opportunities" for further expansion through organic growth and acquisitions.


Print this page | E-mail this page

MOST VIEWED...


Article image Why the Law Says You Need a Nappy Bin Disposal Service

At home, parents are used to disposing of their babies’ used nappies the same way they do any other domestic waste - bagging it up and sticking it in the rubbish for general collection.Full Story...

Article image Long-term, sustainable, FM service delivery

Speaking after his company’s first six months in business, Martyn Freeman explains its focus on staff and working openly and honestly with clients.Full Story...

Pictures of the PFM Partnership Awards 25th anniversary evening

PFM Awards 2018 trophy presentations

Winners of the PFM Awards 2018

http://www.fsifm.comhttps://www.centricabusinesssolutions.com/performance?utm_source=PFM&utm_medium=Newsletter&utm_campaign=CHPhttps://www.daikinapplied.uk/service