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Galliford Try Holdings PLC on Monday said it is buying Coventry-based systems integrator MCS Control Systems Ltd for a nominal £1.00 sum.
The purchase ‘brings highly complementary capabilities into the group and advances our sustainable growth strategy,’ said Galliford Chief Executive Officer Bill Hocking.
MCS is a systems integrator and manufacturer of motor control centres, mainly focused on the water and wastewater treatment sector.
MCS has 81 employees, said Uxbridge, England-based construction company Galliford.
‘Galliford Try expects to fund certain contractual liabilities incurred prior to the completion date of the acquisition to strengthen MCS's balance sheet and provide additional operational stability,’ Galliford said.
In 2020, MCS reported a pretax loss of £500,000 and a revenue of £10.1 million.
Galliford Try shares were 0.3% higher at 162.00 pence each in London on Monday morning.
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