Home Business Business News
Clean-up groups link in £7m deal
Apr 2 2008 by Alex Turner, Liverpool Daily Post
A SPECIALIST brownfield site clean-up firm with a Merseyside base has been bought in a deal that could be worth up to £9m.
Canadian environmental services company EnGlobe has bought Celtic Technologies, which has an office in Newton-le-Willows, to stregthen its European operations.
It has paid £7m, of which £5.25m was in cash and £1.75m in EnGlobe shares, with a further £2m dependent on the future performance of the UK company.
EnGlobe operates in the UK and France as Biogenie, which also specialises in cleaning-up contaminated land and has an annual turnover in the UK of around £4m.
Celtic Technologies, which was founded in 1992, employs 50 people in Cardiff, Merseyside and the Midlands. In the year to November 2007, it increased its turnover by 50% to £10.4m, which generated a pre-tax profit of £1m.
Hot Deals
Copyright and Trade Mark Notice © 2008 owned by or licensed to Trinity Mirror North West & North Wales Limited. Liverpool Daily Post™ is a trade mark of Trinity Mirror North West & North Wales Limited. Please read our Terms and Conditions and Privacy Statement before using this site.
The Liverpool Daily Post, the best source for Liverpool FC, Everton FC and Liverpool news. Your Liverpool Daily Post, great local images, videos and your local stories.