London, 21 June 2019
The board of Bernard Bidco Limited (“Bidco”) and the Independent Directors of Premier Technical Services Group PLC (“PTSG”) are pleased to announce that they have reached agreement on the terms of a recommended all cash offer pursuant to which Bidco, a newly-incorporated company established on behalf of Macquarie Principal Finance Pty Limited, UK branch and a wholly-owned subsidiary of Macquarie Group Limited, will acquire the entire issued and to be issued share capital of PTSG (the “Acquisition”). It is intended that the Acquisition will be effected by means of a Court-sanctioned scheme of arrangement (the “Scheme”) between PTSG and the PTSG Shareholders under Part 26 of the Companies Act 2006.
PTSG, headquartered in West Yorkshire was founded in 2007 with the objective of building the UK’s leading provider of tech-enabled specialist testing and compliance services through a combination of acquisitions and organic growth. The Company has four divisions Access & Safety, Electrical Services, Building Access Specialists, and Fire Solution and has over 1,200 employees serving over 20,000 customers across 180,000 assets. PTSG is listed on the London Stock Exchange.
All documents related to this transaction can be found here.
Please note that this transaction is overseen by The Panel on Takeovers and Mergers, an independent body whose main functions are to issue and administer the City Code on Takeovers and Mergers and to supervise and regulate takeovers and other matters to which the Code applies.
Its central objective is to ensure fair treatment for all shareholders in takeover bids. As such, we are not permitted to provide any further information beyond what is contained within the announcements available here.