StockMarketWire.com - Gama Aviation has acquired FlyerTech and sister company Aerstream. These are privately owned Gatwick based businesses offering a full complement of airworthiness management services.

The acquisition comprises an initial consideration of £3m. A further deferred consideration of up to £0.6m, payable in cash, will be earned if certain future financial performance criteria are met.

In their unaudited results for the twelve months ended 31 May 2016, the Companies generated £1.8m and circa £0.7m of turnover and EBITDA respectively. Gama Aviation's board expects the acquisition to be earnings enhancing in the first full year post acquisition


At 8:44am: [LON:GMAA] Gama Aviation Plc share price was 0p at 168p



Story provided by StockMarketWire.com