LONDON, UK: Galliford Try Holdings has agreed to acquire MCS Controls Systems Limited, a leading systems integrator to the industrial and utilities sectors for a consideration of £1. MCS is based in Coventry, West Midlands and has 81 employees.
Founded in 1976, MCS is a systems integrator and manufacturer of motor control centres for a wide range of industrial market sectors, with its main area of operations being the water and wastewater treatment sector.
The 45 year heritage and values of MCS are an excellent fit with Galliford Try and the Acquisition is consistent with our Sustainable Growth Strategy.
The addition of MCS’s capabilities is complementary to the operations of Galliford Try’s expanding Environment business. In particular, MCS provides additional competencies that complement those acquired in October 2021 with nmcn’s water business and Lintott Control Systems and will accelerate the growth of Galliford Try Environment’s asset optimisation and capital maintenance strategy.
For the year ended 31 December 2020, being the last year for which MCS has published audited results, MCS generated revenue of £10.1 million, incurred a pre-tax loss of £0.5 million and had net assets of £2.0 million. In addition to the purchase consideration of £1, Galliford Try expects to fund certain contractual liabilities incurred prior to the completion date of the Acquisition to strengthen MCS’s balance sheet and provide additional operational stability.
Commenting on the acquisition, Bill Hocking, Chief Executive of Galliford Try, said: “I am delighted to welcome the employees, clients and suppliers of MCS to Galliford Try. This acquisition is an excellent strategic fit with our enlarged water business, brings highly complementary capabilities into the Group and advances our Sustainable Growth Strategy.”