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25/08/2010

T. Clarke Announces Mechanical Services Acquisition

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T. Clarke, the building services group, has announced the acquisition of DG Robson Mechanical Services (DGR), a privately owned specialist Mechanical Services & Public Health contractor for a total consideration of up to £6.15 million.

For the year ended 31 March 2010, DGR reported revenues of £7.7 million and a pre-tax profit of £1.3 million.

Based in Brentwood, Essex and focusing on London and the South East, DGR is well known to T. Clarke, having worked together in recent years on projects such as the Westfield London retail development and the refurbishment of the media and broadcasting centre for Associated Press.

This strategic acquisition is expected to enable T. Clarke to address its clients changing needs, build upon the Group's strong reputation and position the Group for new opportunities requiring a complete 'M&E' solution.

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Recent and current projects include Stansted Airport Extension, Associated Press, Kelmscott School, North Middlesex Hospital, Royal London Hospital, Rolls Building. In 2009 it was awarded the multi service pipe work installation for the Shard development at London Bridge, which when completed in 2013, will be London's tallest building at 306m.

The present owner and Managing Director of DGR, Danny Robson along with fellow executive directors Clive Carr, Richard Exell and Andy Sofroniou will be remaining with the business for a minimum of three years following the acquisition.

Mark Lawrence, Chief Executive of T.Clarke commented: "We believe this is an excellent acquisition which truly complements our existing range of services. We believe that with DGR being part of the Group there is an excellent opportunity to improve our service offering and to build upon the scale and number of projects that DGR undertakes. In due course we expect the additional services offered by DGR to diversify and enhance the Group's earnings profile. We welcome the DGR team to the T.Clarke Group."

(CD/GK)

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