News blog
Southern Bear
- BY: Andrew Hore |
- POSTED: 07/09/2007 |
Southern Bear has completed the acquisition of domestic gas heating installation business Support Services Trading.
The business installs and maintains domestic gas heating and electricals in the North West, Midlands and North Wales. It made an operating profit of £847,000 on turnover of £4.91m in the year to September 2006. Southern Bear paid £4.25m in cash and shares for Support Services Trading and could pay an additional £2.25m depending on its performance.
Southern Bear has raised £2.4m net via a placing at 4p a share. The money raised was increased because of the high demand from investors. The company is valued at £9.8m at the placing price.
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