StockMarketWire.com - CEPS acquired Travelfast Limited for a total up to £1,200,009.

The acquisition of Travelfast Limited, or TFT, would make the newly formed group 'one of the largest individual pattern book and shade card makers in the UK, with two production facilities,' the company said.

The acquisition was in line with CemTeal's strategy of broadening its services and working with management teams who were committed to developing their businesses further, the CEPS added.

'It is expected that there will be significant synergies arising from the combination of these two complementary businesses. The Directors of CEPS believe that the acquisition of TFT by CemTeal will be a valuable addition to CEPS,' it added.

In the year ended 31 December 2017, TFT's sales were £5,303,464, earnings (EBITDA) was £102,496 and loss before taxation was £32,540. At 31 December 2017, net assets were £231,277.

Trading performance and net assets of TFT in 2018 were behind those of 2017, but in line with management's expectations for the period.

The transaction, completed on 27 March 2019, would be funded from the cash flow of the group.




At 9:52am: [LON:CEPS] CEPS PLC share price was +1p at 29.5p



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