Premier Technical Services Group (PTSG) specialises in fa莽ade access and fall arrest equipment services, lightning protection and electrical testing, specialist building access and fire solutions.
The acquisition of Exeter-based Trinity Fire & Security Systems bolsters its presence in the fire and security systems market. 聽
PTSG has paid an initial 拢10.8m cash but Trinity comes with 拢3.1m of cash on its balance sheet. PTSG has also undertaken to pay a further 拢5m in cash or shares over the next two years, subject to performance.
Trinity generated EBITDA of 拢1.5m in the year to 30th June 2018 on revenue of 拢36.8m. Eighty percent of revenues are generated from fire services with the balance coming from security and related activities.
PTSG chief executive Paul Teasdale said: 鈥淭rinity brings with it 2,000 customers, 8,500 one-to-seven-year maintenance contracts, 拢24m of re-occurring revenue and an annual run rate of circa 拢40m, with a forecasted EBITDA of 拢2.2m.
鈥淭his, combined with PTSGs already extensive customer base of over 18,000 customers, shows the potential we have in growing this business.
鈥淭oday鈥檚 announcement marks a step-change in PTSG鈥檚 growth story as we substantially enhance our leading position in fire solutions.
鈥淭rinity is a highly complementary and attractive acquisition. Critically, it fits our clear acquisition model by presenting significant opportunities for cross-selling additional PTSG services whilst supporting our long-term goal of sector dominance.聽
鈥淭he transaction also reflects our determination to grow further our revenues from compliance-related services that now stand at record levels.
鈥淭rinity鈥檚 current main shareholders, including Andrew Cotton, Paul Clayton, Shaun Corbett and Rob Holliday will remain in the business to grow and expand its operations, which will be integrated into PTSG鈥檚 Fire Solutions Division.鈥�
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