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ISOTeam goes on an acquisition spree
ISOTeam Limited announced that it has acquired 4 local companies. Total purchase consideration is $11.0 million. The first 2 companies are Accom International Pte Ltd and Accom Pte Ltd. Accom International is into leasing of construction lifting equipment while Accom is into Repairs and Redecorations work for private estates. Consideration for both companies was $3.5 million and $4.5 million for 100%. The third company is Industrial Contracts Marketing Pte Ltd which is in the specialist painting business. Purchase consideration is $2.1 million for 90% with the remaining 10% priced at a multiple of FY2015 PAT. The fourth company is Rong Shun Landscape & Construction Pte Ltd. It is in the landscaping business. Purchase consideration is $0.9 million. The purchases will be funded by a mixture of cash and shares priced at 50 cents.
GET TO THE POINT : Always good to add new assets, customer base and expertise via affordable M&A.
(Picture from ISOTeam Limited)
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