|Hazlewoods Corporate Finance team has recently advised on the acquisition of Rigby Taylor Limited by Origin Enterprises Plc (ISE: OIZ).
Rigby Taylor is a leading service provider supplying advice and technical product solutions to the professional sports turf, landscape and amenity sectors. The business delivers an important complementary extension to Origin Group’s technology platform, product portfolio and distribution network.
Under the terms of its acquisition, Origin acquired 100% of the share capital of Rigby Taylor for an initial consideration of £9.2 million. Deferred consideration of up to £1 million will be paid based upon the achievement of specific profit targets. Rigby Taylor reported turnover for the year ended 30 November 2010 of £22.7 million and operating profit of £1.52 million.
For any further information, please contact Paul Fussell on 01452 634800.