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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Mcalpine (A) | LSE:MCA | London | Ordinary Share | GB0005645394 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 547.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0254M McAlpine (Alfred) PLC 06 June 2003 Alfred McAlpine Announces the Acquisition of AIMS Group Services Introduction Alfred McAlpine PLC ("McAlpine") is pleased to announce that it has acquired the entire Ordinary Share capital of AIMS Group Services Ltd (AIMS), a specialist advisory, training and technical services business focused on workplace compliance issues, for #7.2m (#5.9m in cash and 507,300 new Alfred McAlpine ordinary shares). In addition McAlpine has settled debt funding in AIMS of #5.9m and may subsequently pay further consideration of #0.8m. The newly acquired business will be integrated into McAlpine Business Services alongside Stiell Facilities, Stiell Networks and AMPL. Background and Reasons for the Acquisition In the past two years, workplace compliance has become a major issue for many clients as the regulatory environment becomes complex and the penalties for non-compliance become increasingly onerous. Key areas include Health & Safety, Fire Safety, Disability Assessment, Environmental Issues, Asbestos Risk Evaluation, Water Hygiene, Construction Safety Advice and Data Management. AIMS was identified as a high quality company with the requisite skill and customer base following a thorough evaluation of the market and the key capabilities required. AIMS has a number of specific strengths and competitive advantages: * As a profitable, medium-sized compliance consultancy, it delivers a broad range of specialist compliance services providing a single point of service for clients * It operates nationally, with approximately 120 consultants possessing a wide range of experience and excellent skills in the regulatory compliance market. * It has a strong corporate customer base, including Sainsbury's, Safeway and LandSecurities, that will dovetail neatly with McAlpine's existing corporate clients * Its 'TrackRecord' compliance management system is recognised as an industry leader * It has a strong, entrepreneurial management team already successful in market-driven product and service development * Its culture and business objectives for development and growth align well with McAlpine's stated strategy of developing a complete service to major clients AIMS will work within McAlpine Business Services on opportunities both to expand the range of services to clients and to develop the company's outsourced compliance management services. These services will meet the increasingly complex compliance requirements of major clients by providing management services, through three to five year term contracts, thus adding to McAlpine's stable, long-term earnings base. Information on AIMS AIMS had a turnover in the year to 31 March 2003 of #11m generating an operating profit of #1.6m and a Pre-tax Profit of #1.2m before amortisation of goodwill and exceptional items. Tangible net assets acquired in the transaction are #1.1m. In its first full year AIMS is expected to enhance McAlpine's earnings, before amortisation of goodwill, and earn in excess of McAlpine's cost of capital. It will provide significant opportunities for McAlpine to expand its service offering into their current corporate and retail markets. The acquisition will continue McAlpine' stated strategy to develop and strengthen its higher "added value" professional services and further develop closer links with its clients. - ends - Date : 06 June 2003 For further information contact : Alfred McAlpine PLC Oliver Whitehead, Chief Executive 020 7930 6255 Ian Grice, Chief Executive Designate Jeffrey Hume, Finance Director www.alfred-mcalpine.com City Profile 020 7448 3244 Jonathan Gillen Simon Courtenay simon.courtenay@city-profile.com This information is provided by RNS The company news service from the London Stock Exchange END ACQEAAKKELDDEFE
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