Aim listed group eyes further acquisitions
Randall & Quilter Investment Holdings has acquired the parent company of run-off group KMS for £1.78m.
The AIM listed group made the announcement to the London Stock Exchange this morning. R&Q said the move would continue a partnership that has seen “both companies work on a number of projects in the past”.
The acquisition of KMS, which made £0.6m in pre tax profit against revenues of £3m for the year ending December 2007.
Ken Randall, chairman and chief executive of R&Q said: "I am pleased to be able to announce the acquisition of KMS. This acquisition will bring further skills to the group to bolster its ability to administer liquidated estates, to manage schemes of arrangement and will further strengthen the senior management team within the Insurance Services Division."
The cash consideration for the acquisition will be payable on completion of the deal.
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