27.11.2007

Siteserv buys Roankabin

Irish fencing and scaffolding group Siteserv plc announced yesterday that it has bought portable buildings manufacturer Roankabin.

The deal is worth an initial €6million (£4 million) with €4.9million paid in cash and the remainder to be made up through the issue of ordinary Siteserv shares.

The sale could be worth a further €2m, depending on the performance of Roankabin over the next three years.
Roankabin had a turnover of €13.2m last year with profits of €0.9m after tax.
Siteserv's share price closed up 21 percent in Dublin following the announcement.