Source - Alliance News

Eneraqua Technologies PLC - London-based heating and hot water systems for social housing and commercial projects - Buys provider of underfloor heating solutions for the health and commercial sectors, Mathewson Holdings Ltd, for an initial cash payment of £1.4 million. Says a further consideration of £350,000 is payable over two years.

Eneraqua says the acquisition ‘extends the company’s low-carbon offering into the healthcare sector and strengthens its offering in other commercial sectors where Mathewson provides underfloor heating solutions.’

For the year ended August 31, Mathewson posts pretax profit of £300,000. Eneraqua Technologies says the acquisition will be earnings enhancing from the start of financial 2024.

Current stock price: 250.00 pence, down 3.9%

12-month change: down 14%

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