Straight buys Helesi's UK business
星期五, 12 三月 2010
Leeds-based environmental products group Straight has acquired Cyprus-based manufacturer Helesi's UK operations for £1.65 million.
Acquisition of Helesi's Rotherham-based refuse and recycling wheelie bin manufacturing business will make Straight the exclusive UK and Irish distributor and licensee for other Helesi products including four-wheeled bins.
The deal will also give Straight, which has between 10% and 15% shares of the UK wheeled bin market, first right to accept or reject importing and distribution of any new products.
The group given an initial payment of £450,000 in cash as part of the deal. It will pay an equal amount on completion and the balance will be given in 10 equal monthly instalments starting on April 30.
Lloyds TSB will provide the firm with a £750,000 loan for initial payments, while the rest will be paid from its existing cash resources.
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