Clipper Logistics, a leading provider of value-added logistics solutions and e-fulfilment to the retail sector, has taken over RepairTech, a specialist provider of consumer electronic repair services based in Southam, Warwickshire.
The group said it anticipated that the activities undertaken by RepairTech would enhance the range of services provided to existing Clipper customers, as well as attracting new clients to the group.
Clipper said the consideration was £2.5m in cash, with a further £0.5m deferred for 12 months.
Assets acquired with the business include net cash balances of approximately £0.3m.
It said the consideration was being funded from existing cash and bank facilities.
It said all members of the senior management team of RepairTech, including managing director Richard Costello, would remain with the business to continue to deliver significant organic growth both in its own right, and across the wider Clipper customer base.