StockMarketWire.com - HML Holdings, a leading provider of property management, insurance and ancillary services to residential property blocks, has acquired Goodacre Property Services, a property management business based in Keston, Kent.

HML Andertons Limited, the subsidiary of HML Holdings covering Kent, Sussex and South London, has purchased the entire share capital of GPS for £317,000.

This consideration will be satisfied in cash from HML's existing cash balances.

The transaction includes an additional performance related retention payment of £80,000 which will be subject to the achievement of certain criteria and will be payable 12 months from the acquisition date.

GPS produces normalised annual revenues of £300,000.

It is expected that GPS will be earnings enhancing once it has been fully integrated into HML.






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