Morgan Sindall PLC
13 December 2004
Morgan Sindall PLC
('Morgan Sindall')
Acquisition of part of Benson Limited
The Board of Morgan Sindall is pleased to announce that Bluestone, its
construction division, has completed the acquisition of part of Benson Limited,
which went into administration today. The acquisition comprises three
construction divisions which employ 175 people at three offices in Reigate,
Hatfield and Southampton. Benson Limited provides construction, interior fitting
out, refurbishment and property maintenance services predominantly in the South
East of England.
The total consideration for the acquisition is £3m and is being financed from
existing cash resources. The division has 38 ongoing contracts and the assets
acquired have an anticipated value of £0.1m.
John Morgan, Chairman, said:
'This deal further strengthens Bluestone's national coverage and provides it
with additional growth opportunities.'
13 December 2004
ENQUIRIES:
Morgan Sindall plc Tel: 020 7307 9200
Paul Smith, Chief Executive
David Mulligan, Finance Director
College Hill Tel: 020 7457 2020
Kate Pope/Matthew Gregorowski
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