Wednesday 09 June 2010

UK Brulines (LON:BRU), providing real time monitoring systems to the leisure and forecourt services sectors, said on Wednesday it was buying Retail & Forecourt Solutions (RFS), in a cash deal, effective today.

The price comprises an initial earn-out of four times EBITDA to 31 July 2010, of which GBP1.2m (USD1.74m/EUR1.5m) to be paid on closing, and an additional payment of 3.5 times EBITDA for the year ending 31 July 2011. RFS had EBITDA of GBP212,000 and revenues of GBP774,000 for the year to 31 July 2009.

RFS offers fuel pump calibration, adjustment and legal verification, as well as forecourt audit and compliance services. The deal will add to Brulines´ offering for the forecourt industry.

Michael Hollier, RFS´ founder, managing director and majority owner, will serve as consultant to RFS after the deal, while Francis Hollier, current technical director, will take the managing director position at RFS.