RNS Number : 9083R

Galliford Try Holdings PLC

11 July 2022


11 July 2022

Galliford Try Holdings plc ("Galliford Try")

Acquisition of MCS Controls Systems Limited ("MCS")

Galliford Try is pleased to announce that it has agreed to acquire MCS Controls Systems Limited, a leading systems integrator to the industrial and utilities sectors for a consideration of GBP1 (the "Acquisition"). MCS is based in Coventry, West Midlands and has 81 employees.

Founded in 1976, MCS is a systems integrator and manufacturer of motor control centres for a wide range of industrial market sectors, with its main area of operations being the water and wastewater treatment sector.

The 45 year heritage and values of MCS are an excellent fit with Galliford Try and the Acquisition is consistent with our Sustainable Growth Strategy.

The addition of MCS's capabilities is complementary to the operations of Galliford Try's expanding Environment business. In particular, MCS provides additional competencies that complement those acquired in October 2021 with nmcn's water business and Lintott Control Systems and will accelerate the growth of Galliford Try Environment's asset optimisation and capital maintenance strategy.

For the year ended 31 December 2020, being the last year for which MCS has published audited results, MCS generated revenue of GBP10.1 million, incurred a pre-tax loss of GBP0.5 million and had net assets of GBP2.0 million. In addition to the purchase consideration of GBP1, Galliford Try expects to fund certain contractual liabilities incurred prior to the completion date of the Acquisition to strengthen MCS's balance sheet and provide additional operational stability.

Commenting on the Acquisition, Bill Hocking, Chief Executive of Galliford Try, said:

"I am delighted to welcome the employees, clients and suppliers of MCS to Galliford Try. This acquisition is an excellent strategic fit with our enlarged water business, brings highly complementary capabilities into the Group and advances our Sustainable Growth Strategy."

For further information please contact:

Galliford Try Holdings plc

Bill Hocking, Chief Executive

Andrew Duxbury, Finance Director

Kevin Corbett, General Counsel & Company Secretary

Tel: +44 (0)18 9585 5001

Peel Hunt LLP (Financial Adviser and Corporate Broker )

Harry Nicholas

Miles Cox

Tel: +44 (0)20 7418 8900

Tulchan Communications

James Macey White

Tel: +44 (0)20 7353 4200

Note to Editors

Galliford Try is a leading UK construction group listed on the London Stock Exchange. Operating as Galliford Try and Morrison Construction, the Group carries out building and infrastructure projects with clients in the public, private and regulated sectors across the UK.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.



(END) Dow Jones Newswires

July 11, 2022 02:00 ET (06:00 GMT)

Galliford Try (LSE:GFRD)
Historical Stock Chart
From Sep 2022 to Oct 2022 Click Here for more Galliford Try Charts.
Galliford Try (LSE:GFRD)
Historical Stock Chart
From Oct 2021 to Oct 2022 Click Here for more Galliford Try Charts.