Business
Acquisition of Lubekonsult AB
Acquisition of Lubekonsult AB.
About this update from Eleco Plc
[{"type":"text","content":"\n RNS Number : 1646R Eleco PLC 17 August 2010 \n \n\nEleco plc\n(\"Eleco\" or \"the Group\")\n \nAcquisition of Lubekonsult AB\n \nThe Board of Eleco, the specialist provider of Software and Building Systems to the construction industry, announces the unconditional acquisition by Consultec Byggprogram AB, its Swedish software subsidiary, of Lubekonsult AB (\"Lubekonsult\") to be effected on 1 September 2010. Lubekonsult was founded in 1984, is situated in Stockholm and provides cost estimation services and software to the Swedish ventilation market.\n \nTurnover of LubeKonsult in 2009 was approximately £550,000 and EBIT for the same period approximately £90,000. \n \nThe consideration, which will be payable in cash, is a minimum of approximately SeK1,800,000 (approximately £160,000Note)paid on completion, with a deferred element of up to a maximum of SeK2,500,000 (approximately £220,000Note) depending on profit performance over each of the next two years. \n \nConsultec Byggprogram, Eleco's principal Swedish software operation, provides cost estimation software and services to the construction, plumbing and electrical contractor markets in Sweden. The acquisition of Lubekonsult extends Consultec Byggprogram's offering into the ventilation market and will enable it to address the needs of large multi-disciplinary customers who prefer a single solution to meet their cost estimation needs. \n \nNote: Exchange rate of 11.34SeK / £\n \nJohn Ketteley, Executive Chairman of Eleco, commented:-\"Lubekonsult has an experienced and highly respected team in the Swedish ventilation market and its acquisition is a strategic move which will enable Consultec Byggprogram to accelerate its entry into the Swedish ventilation cost estimation market.\" \n \nFor further information please contact:-\n \n\n\n\n\nEleco plc\n\n\nT: 01920 443 830\n\n\n\n\nJohn Ketteley, Executive Chairman\nCraig Slater, Chief Operating Officer\n\n\n \n\n\n\n\nCollins Stewart Europe Limited\nBruce Garrow / Sebastian Jones\n\n\nT: 020 7523 8350\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END ACQGGUQWRUPUPUQ \n ","length":3785,"tagName":"div"}]