BSS snaps up UGS
Who?
BSS Group, the Leicester-based distributor to specialist trades.
Did what?
Has bought UGS from family shareholders for £5.1m.
What does this mean?
UGS is a distributor of below-ground drainage and civils equipment to specialist contractors and trades from ten branches nationwide. For the 12 months ended 31 December 2009 it had revenues of £36.4m. BSS group chief executive Gavin Slark said: "The acquisition of UGS will significantly enhance our capability to service the broader drainage market - above and below ground. We see the area of drainage and water management as having significant growth potential in the coming years as infrastructure is upgraded and maintained."
Who advised?
The Birmingham office of Clearwater Corporate Finance has advised UGS. The team comprised Jon Hustler, Nick Holder and Constantine Biller.
Insider comment:
Gavin Slark said: "The business requires some repositioning and as a result it is expected to be earnings neutral in the year to March 2011. From that point onwards, we anticipate UGS will be earnings-enhancing."
