- 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.
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