Member Article

Sheffield fire safety firm sold by parent company for nearly £500k

Green Compliance has announce that it has agreed the sale of its fire suppression business, Sheffield-based Pyramid Fire Protection Ltd, to FCF plc, headquartered in Middlesex.

It has been sold for a total consideration of £435,000 in cash on completion.

This sale follows a review by Freen Compliance which has concluded that the firm will focus all of its efforts on its market leading water hygiene and treatment business.

Pyramid Fire Protection Ltd is involved with fire detection and suppression systems and in the six months to 30 September 2013 it had revenues of approximately £427,000, made a loss before tax of approximately £40,000 and had net tangible assets at 31 January 2014 of approximately £223,000.

Commenting, Bob Holt, Chairman of Green Compliance, said: “We are pleased to have reached agreement with FCF in relation to the disposal of our fire suppression business and believe that FCF offer a great home for this business to thrive.

“We have now completed the strategic realignment of the Group and Green Compliance is now a well-financed, focused and sustainable player in the water hygiene and treatment market.

“We are committed to building the best water business in the UK and we look forward to the coming year as one where we can concentrate on growing our operations in this sector”.

This was posted in Bdaily's Members' News section by Clare Burnett .