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.
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