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Avingtrans Acquires UK Engineering Firm Booth Industries
Friday 14 June 2019

14 June 2019 - UK-based engineered components, modules and services producer Avingtrans plc (AIM: AVG) has acquired the trade and certain assets of UK engineering firm Booth Industries Ltd for total consideration of GBP 1.8m (USD 2.27m), the company said.
Booth, based in Bolton, has a total of 90 employees and focuses on the design and manufacture of blast doors and prefabricated fire and blast wall systems, fire doors (integrity and insulated) for both off and on-shore applications, radiation shielding doors, acoustic doors, security doors, multi-performance and large bespoke doors.
Booth's products are sold into a range of markets including offshore oil and gas, marine, rail and infrastructure, tunnels and mining, security and counter terrorism, aviation, nuclear, commercial and industrial, spares, maintenance and repairs.
The company has acquired Booth from Christopher Petts and Sarah O'Toole of Grant Thornton UK LLP, acting for AIM-quoted Redhall Group plc, which was placed into administration on 10 June 2019.
The total consideration of GBP 1.8m is to be satisfied in cash, funded from the company's existing resources.
In the year to 30 September 2018, Booth recorded revenues of approximately GBP 11.7m and profit before tax of approximately GBP 0.3m.
Acquired net assets totalled approximately GBP 2.5m as at the transaction date, excluding Booth's existing cash and the company's debtor book.
It is intended that Booth will be integrated within the company's Process Solutions and Rotating Equipment division, bringing new expertise to the enlarged business.
Avingtrans designs, manufactures and supplies original equipment, systems and associated aftermarket services to the energy, medical and industrial markets worldwide.
Details
Date Published: 14/06/2019
Target: Booth Industries Ltd
Country: UK
Deal Size: 2.27m (USD)
Sector: Machinery/Engineering
Type: Corporate acquisition
Financing: Cash
Status: Closed
Vendor:
Buyer: Avingtrans plc
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