The BSS Group plc - Acquisition of UGS Limited

Posted: Tuesday 23rd February 2010

The BSS Group plc (‘BSS’ or the ‘Group’), a leading distributor to specialist trades, is pleased to announce that it has acquired UGS Limited (‘UGS’) from family shareholders for a consideration of £5.1m (inclusive of assumed debt).

UGS is a leading specialist distributor of below ground drainage and civils equipment to specialist contractors trading from ten branches giving nationwide coverage. For the 12 months ended 31 December 2009 it had revenue of £36.4m and EBITDA of (£0.04m) loss.

Commenting on the acquisition, BSS Group Chief Executive Gavin Slark said:

“We are delighted to secure the acquisition of UGS which will significantly enhance our capability to service the broader drainage market (above and below ground). We see the area of drainage and water management as having significant growth potential in the coming years as infrastructure is upgraded and maintained.

”The business requires some repositioning and as a result it is expected to be earnings neutral in the year to March 2011. From that point onwards we anticipate UGS will be earnings enhancing”.

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