Completion of Acquisition
25 October 2004 - 5:01PM
UK Regulatory
Embargoed: 0700hrs, 25 October 2004
Delling Group Plc
("Delling" or the "Group")
Completion of Acquisition
Delling Group Plc, the marketing support services group, is delighted to
announce the completion of its first acquisition since joining the Alternative
Investment Market last week.
As proposed in the recent admission document, Delling has now completed the
acquisition Depicta Fame, a leading, profitable Norway-based expo material
production company whose clients include Statoil, Norsk Hydro and McDonalds.
Depicta Fame is in the business of printing images and materials for billboard,
banner and poster advertising and has an excellent strategic fit within
Delling's outsourcing and media production division.
Delling has acquired Depicta Fame for approximately �830,000 which has been
satisfied though a combination of shares and cash. In the eight months to
August 2004 Depicta Fame had unaudited sales of approximately �1.1m and a
pre-tax profit of approximately �150,000. Delling believes there is significant
potential to increase the profits of Depicta Fame by taking immediate advantage
of the synergies in the media production division. This will include the
transfer of business that Delling currently out sources to sub contractors in
Sweden to Depicta Fame in Oslo. There are also cross-selling opportunities as a
result of this acquisition.
Aksel Bratvedt,Chief Executive, commented,
"I am very pleased to have completed our first acquisition since listing on the
London Stock Exchange. We are establishing an acquisition programme in the
outsourcing and media production area of Delling and this represents the first
step in the implementation of that programme. Depicta will enhance the offering
of our media production division where we are very confident that we can
increase sales to the benefit of our shareholders."
-ends-
For further information please contact:
Aksel Bratvedt,Chief Executive
Geir Lolleng, Chief Operating Officer
Delling Group plc
020 7010 8210
Ben Simons/Chris Roberts
Hansard Communications
020 7245 1100
END
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