Spice PLC
21 September 2007
21 September 2007
Spice plc
Contract win and Acquisition
Contract win in the USA - AT&T Inc ("AT&T")
The Board of Spice plc ("Spice"), the provider of outsourced infrastructure
support services to the Commercial, Public and Utility Sectors, is pleased to
announce that Freedom, its Utility Services business, has been selected by AT&T
to provide records and data management services in the United States of America.
The contract is for an initial period of two years. The estimated turnover value
per annum is expected to be £5 million. Freedom will be working alongside client
staff from AT&T in AT&T's offices across four US states (Mississippi, Florida,
Tennessee and North Carolina), as part of an integrated project delivery team.
Simon Rigby, Chief Executive Officer, commented:
"I am delighted that the Spice outsourcing model is to be applied in the USA.
This is an extremely significant contract for the development of Spice and I am
pleased it is in an area we know so well and that our staff will be working in
the offices of one of the worlds largest utility companies. I have long been of
the opinion that our contacts would naturally take us abroad. It is an
indication of the strength in depth in our Freedom business that we have
negotiated and mobilised for this contract during a period of record growth here
in the UK."
Acquisition of KMN Group Limited ("KMN")
Spice is also pleased to announce the acquisition of KMN for an initial cash
consideration of £0.75 million. A further sum of up to £0.1 million is payable
based on the excess of net assets over £0.2 million. KMN is based in Leeds and
provides specialist professional civil and structural engineering design and
management services. Turnover for the year ended 30 November 2006 was £0.9
million. Net assets at 30 November 2006 were £0.2 million. KMN becomes part of
Freedom's Consultancy Service Island within its Utility Services Division.
Simon Rigby, Chief Executive Officer, commented:
"KMN will bring additional management skills and new clients to our Utility
Services Division and will further strengthen our service structure and
reinforce our position as a market leader within the UK. With the increased
demand for these services throughout the UK, we are well placed to win further
work."
Ends
Enquiries:
Spice plc Tel: 0113 384 3838
Simon Rigby, Chief Executive Officer
Oliver Lightowlers, Group Finance Director
Carl Chambers, Corporate Development Director
Financial Dynamics Tel: 020 7831 3113
Billy Clegg
Caroline Stewart
KBC Peel Hunt Tel: 020 7418 8900
Julian Blunt
NOTES TO EDITORS
Spice plc
Spice is a support services business operating in the Commercial Services,
Public Services and Utility Services sectors. The Group's operations were
founded in 1996 and have their origins in the electricity industry, though the
range of activities has since been expanded into the water sector, niche
telecommunications services, the public sector, energy management and commercial
facilities management. Spice's businesses have a common theme of delivering and
co-ordinating infrastructure services to customers, and the technological
element within the product mix has been built up significantly over the course
of the last three years.
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