T.Clarke Strengthens Regional Operations With £1.75M Acquisition - [T Clarke Group News]

The Board of T.Clarke plc ("T.Clarke"), the electrical engineering and contracting company today announces the acquisition of the entire ordinary share capital of Waldon Electrical Contractors Limited ("WEC")

The Board of T.Clarke plc ("T.Clarke"), the electrical engineering and contracting company today announces the acquisition of the entire ordinary share capital of Waldon Electrical Contractors Limited ("WEC"), incorporating Waldon Data Limited and Waldon Security Limited, for £1.75m in cash.

WEC is an electrical contractor with 80 employees based in St Austell, Cornwall where it has an excellent reputation in its local markets.

In the year to January 2005, WEC reported turnover of £4m, a pre-tax profit of £113,000 and had net assets of £371,000. The Board of T.Clarke is confident that as part of the larger group WEC will continue its growth.

Pat Stanborough, Chief Executive commented,

" I am delighted to announce the acquisition of Waldon Electrical Contractors. It is an excellent business, with a first class reputation in its local markets of the South West of England. Developing our regional coverage and broadening our customer base are key parts of our strategy. Waldon fits our criteria perfectly. It delivers a good reputation and broad customer base with an excellent management team. I look forward to Waldon helping to deliver a successful and profitable future for the Group. "

For further information, please contact:

T.Clarke plc
Pat Stanborough, Chief Executive
John Daly, Finance Director
Tel: 020 7358 5000

City Profile Group
Simon Courtenay
Tel: 020 7448 3244