Sanderson acquires logistics outfit Gould Hall

Digital technology solutions business Sanderson Group has acquired logistics outfit Gould Hall Computer Services for a maximum enterprise value of £3.17m.

Sanderson will make pay an initial £1.85m for Gould Hall, made up of £1.27m in cash, financed from existing resources, with the rest funded by the issue of 500,000 ordinary shares.

The outstanding amount will be paid in cash in a number of tranches over the next six years.

In its last trading year, Gould Hall reported revenues of £3.03m and a pre-tax profit of £300,000. Net assets came to £1.44m.

Chief executive Ian Newcombe, said: "We are delighted to welcome the Gould Hall directors and team to Sanderson and we are excited by the opportunities that will arise from this complementary acquisition which further strengthens the range of Group solutions and services available to customers within the supply chain logistics and distribution sectors."

As of 0925 BST, Sanderson shares had climbed 5.12% to 113p.