Carillion PLC
09 September 2002
Carillion completes acquisition of Citex Management Services
Business and Construction services provider, Carillion plc, has today completed
the acquisition of Citex Management Services.
Carillion has purchased from Citex Professional Services Limited its Management
Services business for £11.5 million, met in cash from Carillion's existing
resources.
The acquisition will see Citex Management Services become an integral part of
Carillion Facilities Management Services. Citex Management Services has a
highly successful track record focused on the provision of facilities management
services to blue chip corporate customers. The acquisition includes its
portfolio of contracts generating turnover of around £25 million per annum,
together with its experienced management team and around 200 staff.
Commenting on completion of the acquisition, Carillion Chief Executive, John
McDonough said: 'The development of our Business Services activities, which now
generate more than half the Group's profit, continues to be a key part of our
strategy for growth and high quality margins. This acquisition, which includes
the transfer of key Citex staff, complements Carillion's strong portfolio of
public sector contracts. It is therefore a significant step in strengthening our
well established facilities management business and will enhance opportunities
for sustainable growth both in the UK and internationally.'
For further information
John Denning Director Corporate Affairs 01902 316426
This information is provided by RNS
The company news service from the London Stock Exchange
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