The price for the shares is agreed at GBP 4.5 million (€ 5.3 million / $ 5.6 million) Screen Solutions, which in 2015 had revenue of GBP 7.1 million (€ 8.3 million /$ 8.8 million), a profit before tax of GBP 0.5 million and a staff averaging 70 employees, is based in Peacehaven, near Brighton.
Stronger presence of Gabriel in the UK
The company is recognised as one of Europe’s leading suppliers of screens, office dividers etc. for the European furniture industry and it trades primarily under the established brands Screen Solutions and Acoustic Comfort.
The purchase of the shares in the English company is part of the continued strengthening of Gabriel’s presence in Great Britain. In addition, the purchase supports the Group’s increased focus on expanding the services and products offered globally to the Group’s primary customer segment.
The Group expects revenue from Screen Solutions to contribute positively to total consolidated growth in 2016/17, while the costs of the takeover will have a negative effect on profits for 2016/17.
The management of Gabriel Holding A/S will announce its total expectations for 2016/17 on the occasion of the presentation of the 2015/16 annual report on 15 November 2016