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Hill & Smith acquires Prolectric Services for up to £18.2m
StockMarketWire.com
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Infrastructure company Hill & Smith said it had completed the acquisition of Prolectric Services for up to £18.2 million.
Prolectric, located in Clevedon, North Somerset, is an off-grid solar energy solutions.
The deal included an inital cash offer of £12.5 million and a earnout provision of up to £5.7 million in the 12 months post-acquisition.
The expected underlying operating profit of Prolectric for the year to March 2021 was about £1.4 million with a margin above the current group average.
Story provided by StockMarketWire.com
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