Business
Acquisition by Subsidiary and RPTs
Acquisition by Subsidiary and RPTs.
About this update from Ceps Plc
[{"type":"text","content":"\n\n \nCEPS PLC\n(\"CEPS\" or the \"Company\")\n \nSubsidiary Name Change,\nAcquisition by ICA,\nRestructuring of Share Capital of ICA\nand\nRelated Party Transactions\n \nSubsidiary Name Change\n \nOn 24 January 2025, a subsidiary trading company of CEPS, Hickton Group Limited, changed its name to ICA Group Limited.\n \nIt is felt that with the expansion in the activities of the Hickton Group Limited over the past few years, from the original Clerk of Works business, the new name, \"Inspection, Compliance and Audit\", abbreviated to ICA, better reflects the breadth of the current activities.\n \nThere is no effect to shareholders as a result of this name change.\n \nAcquisition of Align Building Control Limited and Align Group (UK) Limited (together \"Align\") by ICA Group Limited (\"ICA\") (\"Acquisition\")\n \nOn 1 April 2025, ICA, a 53.8% owned subsidiary of CEPS, acquired the entire issued share capital of Align (the \"Acquisition\") for a total cash consideration of up to £1,186,350 split as to an upfront cash consideration of £898,921 payable on completion, and an additional deferred cash consideration of up to £287,429 paid in equal quarterly instalments for the 36 months following completion.\n \nAlign is a reputable corporate-approved building inspector operating across a wide variety of construction industries and sectors. Align provides guidance at all stages of projects, including pre-application, plan checking, site inspection, and final approval. Operating nationally, the business currently offers its services to new and repeat clients. The continued strength of Align's service offering has ensured the longevity of its relationships with clients, some of which now span over ten years.\n \nAlign Building Control Limited's operations cover building control regulations whilst Align Group (UK) Limited covers consultancy projects. \n \nFor the financial year ended 31 December 2024, Align Building Control Limited delivered unaudited revenue of £1.25 million and generated an unaudited profit before tax of £263,163. As at 31 December 2024, the unaudited net assets of Align Building Control Limited were £257,163. For the financial year ended 31 December 2024, Align Group (UK) Limited delivered unaudited revenue of £94,854 and generated an unaudi...