Agreement to acquire LBI Installations Ltd
21 Junio 2010 - 1:00AM
UK Regulatory
TIDMBRU
RNS Number : 9134N
Brulines Group PLC
21 June 2010
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| Press Release | 21 June 2010 |
+------------------------------+-----------------------------+
Brulines Group plc
(the "Group" or "Brulines")
Agreement to acquire LBI Installations Ltd
Brulines Group plc (AIM:BRU), the leading provider of real time monitoring
systems and data management services for the leisure and forecourt services
sectors, is pleased to announce that it has agreed to acquire the issued share
capital of LBI Installations Ltd ("LBI" or "the Company"). Completion, subject
to satisfactory due diligence, is scheduled for 16 July 2010.
Established in 2006, LBI operates web-based contract management solutions for
forecourt operations, including those of a leading UK supermarket retailer,
which has recently extended that contract for a further 3 years. LBI's
proprietary solution has been designed to significantly simplify management of
multiple contractors for both reactive and preventive maintenance, as well as
ensuring regulatory compliance in a sector where exemplary control measures are
essential. In addition, LBI offer forecourt engineering and project management
solutions to a number of forecourt operators.
The consideration for the acquisition will consist of an initial payment of
GBP360,000, followed by performance related deferred consideration. Unaudited
accounts for LBI for the year ended 31 March 2010 show that the Company recorded
an EBITDA of GBP166,000 on a turnover of GBP1,202,000.
On completion of the acquisition, Craig Brocklehurst, current Managing Director
of LBI will be appointed Operations Director of Brulines Forecourt Services
Division, reporting to Phil Maud, Managing Director of Brulines Forecourt
Services Division.
Brulines' forecourt strategy aims to deliver a market leading, integrated
toolbox of data management, analysis, and associated products and services that
allow forecourt operators to optimise return on investment from their fuel
stocks and the assets designed to store, control and issue fuel.
This strategy has been progressed through a series of developments commencing
with the acquisition of Edensure, a wet stock management business, in October
2008 followed by the appointment of Phil Maud from Morrisons Supermarkets in
September 2009, the acquisition of Energy Level Systems Ltd the gauging systems,
tank lining, LPG and forecourt services business in April 2010, and very
recently, on the 09 June 2010, the acquisition of Retail & Forecourt Solutions
Ltd, the UK market leader in fuel pump calibration, adjustment and legal
verification, and also a leading provider of forecourt audit and compliance
services.
Phil Maud, Managing Director of Brulines' Forecourt Services Division said:"This
acquisition is one of the final elements in building a product portfolio and
organisation capable of delivering our forecourt strategy. Our recent
acquisitions in forecourt services are well run, profitable businesses employing
high calibre people. We are now focused on growing our business organically by
building on the broad customer base which has resulted from this year's
acquisitions. Across the division we now supply solutions to UK forecourt
retailers accounting for over 60% of the fuel sold in the UK, including most of
the major supermarkets and leading oil company brands.
Commenting on the proposed acquisition and appointment, James Dickson, Chief
Executive of Brulines, commented: "This acquisition is a key element of our
customer proposition and ensures that Brulines Forecourt Services Division is in
a strong position to continue our innovation and to challenge larger players in
the fuel management sector such as Fairbanks in the UK, and internationally,
global players such as Gilbarco Veeder-Root. I am very confident that we are
now well placed to replicate in the forecourt market our success in the leisure
sector. Additionally, the LBI system has capabilities which we believe can offer
value to customers within our Leisure division, and we will look to take
advantage of that opportunity over time."
- Ends -
Enquiries:
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| Brulines Group plc | |
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| James Dickson, Chief Executive | Tel: +44 (0) 1642 |
| | 358 800 |
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| james.dickson@brulines.com | www.brulines.com |
+------------------------------------+----------------------+
+------------------------------------+----------------------+
| Cenkos Securities plc | |
+------------------------------------+----------------------+
| Stephen Keys / Camilla Hume | Tel: +44 (0) 20 7397 |
| | 8900 |
+------------------------------------+----------------------+
| | www.cenkos.com |
+------------------------------------+----------------------+
Media enquiries:
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| Abchurch Communications | |
+------------------------------------+------------------------+
| Sarah Hollins / Joanne Shears / | Tel: +44 (0) 207 398 |
| Mark Dixon | 7729 |
| mark.dixon@abchurch-group.com | www.abchurch-group.com |
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About Brulines
Brulines Group is focused on the provision of real time monitoring systems and
data management services for the UK's leisure and petrol forecourt sectors.
Since its admission to AIM in 2006, the Group has grown both organically and
through a series of strategic acquisitions to give the Group access to key
vertical markets. The Group operates two divisions which comprise five key
products:
LEISURE DIVISION
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| Dispense | The Group's core product, DMS, is widely used by owners and operators within the UK licensed on-trade, especially the tenanted / leased pub sector. Flow meters connected to draught beer dispense lines send data via an on-site communication panel to a secure central database. Liquid volumes by fount, draught wine or post mix are tracked as they are served, thereby helping customers to maximise sales, service and quality as well as managing their costs . DMS is installed in over 22,000 pubs and manages data for more than one in three UK pubs. |
| Monitoring | |
| (DMS) | |
+--------------+----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+
| i-draught | A more recent and rapidly growing product offer is i-draughtTM, an extension of the Group's DMS, which scrutinises the quality of products running through beer lines in a bar; measuring volume, temperature, flow rate and liquid type (e.g. beer, cleaning fluid or water) at the point of dispense. i-draught is the first system to provide effective measurement of true yields on draught products. Actual dispense volumes are compared with till transactions to identify shrinkage from products given away, pilferage and wastage. i-draught measures the precise temperature of every pint as it is dispensed, the time taken to dispense each drink, and automatically identifies the liquid allowing customers to know exactly when lines are cleaned. Wherever they are, customers can stay in control through accessing their information on a secure web site. |
| (formerly | |
| BQM) | |
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| Gaming | The acquisition of Coin Metrics in May 2007 was a strong strategic fit with Brulines' existing Machine Insite business which already provides gaming machine data management and consultancy services to operators within the pub, club and leisure markets. Customers benefit from state-of-the-art real-time data capture and reporting systems that deliver improved machine profitability and operational security. |
| Machine Data | |
| Services | |
| | |
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| Vending | The Group's subsidiary Vianet is a pan-European provider of telemetry solutions and data applications to the vending industry. Vianet provides services for all vending management needs; from operations, sales, field services, national accounts to senior management. |
| Telemetry | |
| | |
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FORECOURT SERVICES DIVISION
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| Through its Forecourt Services Division, Brulines offers a market leading, |
| integrated toolbox of data management, analysis, and associated services that |
| allow forecourt operators to optimise return on investment from their fuel |
| stocks and the assets designed to store, control and issue fuel. |
| |
| The Forecourt Services Division and its associated services have been built |
| through a series of strategic acquisitions starting with Edensure, a wet stock |
| management business, in October 2008. The acquisition of Energy Level Systems |
| Ltd (ELS) Ltd; the gauging systems, tank lining, LPG and forecourt services |
| business followed in April 2010. In June 2010, the Group acquired Retail |
| Forecourt Solutions Ltd (RFS), the UK market leader in fuel pump calibration, |
| adjustment and legal verification, and also a leading provider of forecourt |
| audit and compliance services. |
| |
| Under the leadership of Managing Director Phil Maud, formerly Morrisons |
| Supermarkets Forecourts Director, who joined in September 2009, the Forecourt |
| Division supplies services to forecourt retailers that account for more than |
| 60% of the fuel sold in the UK, including all the major supermarkets and the |
| majority of the leading oil company brands. |
+--------------------------------------------------------------------------------+
Headquartered in Stockton-on-Tees, Brulines employs more than 290 people.
For further information, please visit www.brulines.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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