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Acquisition of E3 Technical business from Carweb

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RNS Number : 3307S
Haynes Publishing Group PLC
02 October 2017
 

Haynes Publishing Group P.L.C. ("Haynes").

 

 

Haynes (LON:HYNS) is pleased to announce that it has reached agreement on the acquisition of the E3 Technical business from Carweb Ltd., a Solera UK subsidiary, for a total cash consideration of £4.72 million (the "Transaction"). The consideration is being funded from Haynes' existing cash resources and banking facilities.

 

The E3 Technical business consists of repair and maintenance information ("RMI"), vehicle registration mark look-up ("VRM") and an associated provision of helpdesk services. The Transaction includes the acquisition of certain customer contracts, and employees from Carweb.

 

Commenting on the Transaction, Eddie Bell, Chairman of Haynes, said "this acquisition will significantly strengthen the Group's professional data solutions offering in the UK and provide cross over benefits for Haynes' consumer division."

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

 

 

Enquiries:

 

Haynes Publishing Group P.L.C.                                        +44 1963 442009

E Bell, Chairman

J Haynes, Chief Executive Officer                             

 

Investor Contact: Panmure Gordon (UK) Limited            +44 20 7886 2500

Karri Vuori

Erik Anderson

James Greenwood                                                    

 

Media Contact: New Century Media                                  +44 20 7930 8033

Richard Hill     

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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