Building services provider Northern Bear has acquired electrical contractor J Lister for an initial £950,000 in cash and shares.
The York-based business provides cross-selling opportunities for the group. A further £300,000 could be payable depending on profit exceeding past levels. Total profit in the next three years to September 2022 has to exceed £1.42m for the full amount to be payable. In the year to March 2019, pre-tax profit was £280,000.
The acquisition should be earnings enhancing.
© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.