MS International Acquires Petrol Sign B.V.
MS INTERNATIONAL plc is pleased to announce that it has acquired the entire issued share capital of Petrol Sign B.V. ("Petrol Sign"), a company based in the Netherlands, from Lambooij Holdings B.V. The consideration for the acquisition is €3.4 million on a cash and debt free basis and includes "normalised" working capital. The consideration has been satisfied from the Company's existing cash resources.
Petrol Sign designs, restyles, produces and installs the complete appearance of petrol station superstructures and forecourts. The acquisition will enhance and widen the ability of the Company's 'Petrol Station Superstructure Division' to offer a more complete package of services to customers.
For the financial year ended 31st December 2014, Petrol Sign had unaudited revenues of €4,156,000 (€3,190,000:2013) and an unaudited profit before taxation of €446,000 (€196,000:2013). As at 31st December 2014, Petrol Sign had unaudited net assets of €756,000.