Business
Acquisition
Acquisition.
About this update from Phsc Plc
[{"type":"text","content":"\n \n\n PHSC plc\n30 November 2007\n (\"PHSC\" or the \"Company\")\n\n Completion of Acquisition of\n In House The Hygiene Management Company Limited\n\nFurther to the announcement made by PHSC on 5 September 2007 the directors are pleased to announce\nsuccessful completion of the acquisition of the entire issued share capital of In House The\nHygiene Management Company Limited (IH).\n\nThe purchase price is £300,000 plus the opportunity of a bonus payment subject to the level of\nfuture profits. In addition, assets will be acquired at fair valuation.\n\nThe acquisition will be funded entirely from existing cash reserves, as follows:\n\n * £200,000 on completion;\n * £50,000 on the first anniversary of completion; and\n * £50,000 on the second anniversary of completion.\n\nBoth anniversary payments are subject to an uplift equal to 50% of any pre-tax profit above\n£100,000 in the preceding year.\n\nIH is a well-respected and established food safety and hygiene consultancy, with many hospitals,\nschools and hotels amongst its client base. The company also offers general health and safety\nconsultancy and training. Turnover in the six months to 30 June 2007 was £196,000, generating pre-\ntax profits of £56,000 (unaudited).\n\nIH will be managed from the Midlands offices of another PHSC subsidiary, RSA Environmental Health.\n\nFurther information and a comprehensive client list can be found at\nwww.inhouse-hygiene.co.uk\n\nFor further information, please contact:\n\nPHSC plc\nStephen King 01622 717700\[email protected]\nwww.phsc.plc.uk\n\nRuegg & Co Limited\nGavin Burnell 020 7584 3663\[email protected]\n\nHichens, Harrison & Co plc\nDaniel Briggs 020 7382 7776\n\nPHSC plc\n\n\t\t\t\t\t\t \n ","length":2003,"tagName":"div"}]