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Talarius Makes £10.65m AGC Acquisition
Quicksilver has strengthened its market-leading position with the acquisition of the 13 'Royals' AGC's situated across Scotland and the north of England. The £10.65m acquisition of Royals, which were managed by Leisure Promotions Ltd. and In To Save Ltd., was announced to the London Stock Exchange on 7 July by Talarius plc. In the year to 30 June 2004 Leisure Promotions and In To Save had combined sales of £7.1m generating an operating profit of £1.4m.
Nick Harding, pictured, CEO of Talarius plc said, "Talarius was listed on 4th April 2005 as an acquisition vehicle with the objective of consolidating the highly fragmented adult high street gaming market. Within three months the management team, led by David Williams, delivered the acquisition of RAL, and now Royals, a business which we have long admired. The acquisition particularly increases our presence in Scotland and provides a significant earnings enhancing opportunity. The acquisition takes the number of Quicksilver sites to 142 and the gaming machine estate to 7,000, the largest within the UK AGC sector."
"There are important synergies which we will derive from bringing these and other similar businesses together and we shall continue to seek out such acquisition opportunities in both the UK and Europe, whilst at the same time further developing our successful on-line offerings," Mr Harding said.
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