IT firm swoops for logistics specialist in multimillion-pound deal

Coventry-based Sanderson Group, which has a major presence in Sheffield, has acquired a Lancashire logistics tech firm in a £4m deal.

Sanderson, which provides digital technology, software and managed services for the retail, wholesale, logistics and manufacturing sectors, has bought Gould Hall Computer Services for a maximum value of £3.17m.

Established for more than 30 years, Gould Hall provides software solutions to customers operating in the supply chain and distribution sectors.

Gould Hall employs 27 staff, operates from Skelmersdale and provides full enterprise solutions for its customers.

Sanderson Group CEO 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.”

The last year of audited accounts to 31 March 2018 show Gould Hall reporting revenue of £3.03m with profit before tax of £0.30m and net assets of £1.44m.

At acquisition, the acquired net assets included net cash balances of £0.79m.

The purchase consideration for the acquisition comprises an initial £1.85m, made up of £1.27m in cash (financed from existing Sanderson cash resources) and by the issue of 500,000 Sanderson 10p ordinary shares.

These shares are subject to a lock-in period of three years.  Deferred consideration, totalling £2.15m, is payable in cash in a number of tranches over the next six years; £0.60m is unconditional and payable by 2023 and a further £1.55m which is conditional upon certain performance criteria having been met.

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