Independence for Peter Cox
Damp proofing and building repair specialist Peter Cox has been taken over.
Previous owner Restore plc waned to focus on its core business of office services and document storage.
Former Restore finance director Harvey Samson set up Castlefield House to buy the Peter Cox business.
Purchase price is £3.6m, of which £2.2m is payable on completion. Restore will receive a further £500,000 at the year end. Three further payments of £300,000 each will be made in September 2013, 2014 and 2015.
Manchester-based Peter Cox claims to be the UK market leader in damp proofing, waterproofing, timber preservation and wall stabilisation. For the year to December 2011, it recorded profit before tax of £800kn on turnover of £15.2m. Net assets at completion were £1.4m.
Restore chief executive Charles Skinner said: “I expect Peter Cox to thrive as an independent business and wish Harvey and his team the very best for the future."
- Click here to return to the previous page
- Subscribe to our free construction newsletters
- Buy & Sell Construction Plant Machinery online with TCiTrader.co.uk. Find new, used & reconditioned Construction Equipment. Click here to view Construction Equipment Classifieds.
Download our free construction news iPhone / iPad app. Sign up to our FREE email newsletters or subscribe to our RSS feed for regular updates on the latest Construction News, Plant News, Contract News & Supplier News. The Construction Index also provides the latest Construction Tenders, Construction Market Data & Construction Law Commentary all FREE.
This article was published on 7 Aug 2012 (last updated on 7 Aug 2012).