1/9/2006
The BSS Group PLC ('BSS' or the 'Group'), the leading distributors of heating, plumbing and pipeline equipment to the industrial and domestic construction markets, is pleased to announce the acquisition of Spendlove C. Jebb ('SCJ') from the Jebb family shareholders.
SCJ is one of Ireland's leading plumbing, heating and bathroom merchants operating principally from three branches (Belfast, Enniskillen and Lisburn) in Northern Ireland and through one branch in Leeds.
BSS has paid £12.7m in cash which is subject to adjustment following verification of the working capital position of SCJ as at completion.
Commenting on the acquisition, Gavin Slark, Chief Executive of BSS, said:
'The acquisition of SCJ is firmly in line with our stated strategy of organic growth and bolt-on acquisitions. SCJ marks our entry into the domestic Irish market, complementing the presence that our Industrial Division has already established in Belfast, Dublin and Cork and positions us well for further growth across Ireland.'
-ENDS-
For further information, please contact:
The BSS Group PLC
Gavin Slark, Chief Executive
Roddy Murray, Finance Director
Tel: 0116 - 256 7006
Hogarth Partnership
Andrew Jaques
Rachel Hirst
Charlie Field
Tel: 020 - 7357 9477