Severfield Plc To Acquire Harry Peers & Co Limited

  • Severfield Plc (SFR) will be acquiring the entire share capital of Harry Peers & Co Limited for a net initial consideration of £18.0 million payable in cash on completion.
  • However, there is also a provision of a performance-based deferred consideration, payable in late 2020, which could increase the purchase price by up to £7.0 million.
  • Harry Peers is a leading full-service structural steelwork business and will significantly expand Severfield’s present capabilities into attractive complementary market sectors.
  • On 1st October 2019, at the time of writing, GMT 08:12 AM, SFR shares were trading at GBX 71.10, flat against the previous day closing price.