Premier Technical completes Langston Jones deal

11th Nov 2015 16:37

(ShareCast News) - Premier Technical Services Group has completed the acquisition of electrical safety testing company Langston Jones for £700,000 in cash.The London-listed company, which provides facade access and fall arrest equipment services, lightning protection and electrical testing, said it has inherited cash balances of £400,000, adding that the acquisition immediately expands its client base into new territories."Langston Jones also brings additional expertise and knowledge to our existing portfolio of electrical testing services with its bias towards Portable Appliance Testing, whereas PTSG's focus has historically been on Electrical Installation Testing," said group chief executive Paul Teasdale.In the year to 31 March, Langston Jones made a pre-tax profit of £100,000 on revenue of £1m.Premier Technical shares closed down 2.56% to 92.00p on Wednesday.