Creation of new subsidiaries

RNS Number : 8683F

React Group PLC

17 November 2015

 

REACT Group PLC

17 November 2015

REACT Group PLC ("REACT"), the specialist provider of rapid response deep cleaning and emergency decontamination services, is pleased to announce the expansion of its service offerings into Licensed Asbestos Removal and Occupational Hygiene Services.

REACT has acquired certain capital equipment, for a small sum, from two separate businesses which have previously operated in these fields, and recruited a specialist in each area. REACT has created two new wholly-owned subsidiaries: REACT Environmental Services Ltd ("RES") and REACT Occupational Hygiene Services Ltd ("ROHSL"), which will be able to offer a wider and complementary range of managed services to its growing client portfolio, as set out below:

Asbestos

·    Full Asbestos removal - Licensed and Non-Licensed

·    Asbestos surveys

·    Asbestos soil testing

·    Soil contamination testing

·    Full reinstatement after removal

Occupational Hygiene

·    Indoor air quality testing

·    Occupational exposure monitoring

·    Acoustic surveys

·    Biological contaminates

·    Hazard surveys

·    Mold detection

Since REACT was admitted to AIM in August of this year, the Board has looked at a number of small add-on acquisitions to broaden the product offering and we are delighted to have been able to acquire the assets of these two former businesses, which fit perfectly with our outlined growth strategy.

All of the subsidiaries' administration will be run out of REACT's Swadlincote offices, and the Board believes that over a short period of time we will see a positive contribution from both companies.

We continue to look for further synergistic acquisitions to complement our expanding structure.

Grahame Rummery, REACT's CEO commented: "We are delighted to have acquired the assets of both these businesses as we always viewed environmental air testing and asbestos as areas we needed to get into to enable REACT to have a wider product offering. To have acquired these assets and the personnel without paying substantial amounts of goodwill is also pleasing and should prove beneficial to our shareholders."

For further information, please contact:

REACT Group plc

Gill Leates - Chairman                                                                07799 662642

SPARK Advisory Partners Limited

Neil Baldwin                                                                                0113 370 8974

Mark Brady                                                                                  0113 379 8971

 

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