Babcock International Group PLC
10 September 2004
10 September 2004
BABCOCK INTERNATIONAL GROUP PLC
Acquisition of Turner and Partners
Babcock International Group Plc ('Babcock') today announces it has completed the
acquisition of Turner and Partners. Turner and Partners is a market leading
professional services company engaged in acquisition, design and construction
management activities to the majority of the UK mobile telecommunications
network operators. In the 12 months to the 30 June 2004 Turner and Partners
turnover was some £4m and it employed approximately 70 people. Through its
combination with the existing Babcock business, Eve Telecom, this strategically
important acquisition will significantly enhance the service offering of the
telecommunications business.
Babcock paid £4.1m in cash and loan notes at completion. This figure could rise
to a maximum amount payable of £7.4m over the next 3 years, contingent upon
performance.
Commenting on the acquisition Peter Rogers, Babcock CEO, said: 'The acquisition
of Turner and Partners will enable Babcock to offer the mobile
telecommunications network operators an end-to-end life cycle service to
develop, maintain and support their operational network assets. With the
rollout of the 3G networks now underway we anticipate significant synergies from
the combination of the skills of Turner and Partners and Eve Telecom'.
Babcock International Group PLC
Peter Rogers 020 7291 5000
Bill Tame
Alan Robertson
Financial Dynamics
Andrew Lorenz/Richard Mountain 020 7831 3113
Notes to editors: About Babcock International Group PLC
Babcock International Group PLC is a support services business providing
technical services, training and facilities management to the defence and civil
sectors. In the year to 31 March 2004 sales from continuing business were £438
million.
The Group operates in two principal sectors: Technical Services (engineering and
support services in defence, rail, marine and secure facilities sectors) and
Training & Support (support services, training and facilities management for the
defence and civil sectors).
Babcock's head office is in London and the Company's shares are quoted on the
London Stock Exchange. For further information, please visit Babcock's website
at www.babcock.co.uk.
This information is provided by RNS
The company news service from the London Stock Exchange
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