As an integrated Group operating in all event professions, GL events works in three major segments:
event organisation, event venue management and services for fairs, congresses and events.
© Odile Decq architect / Felice Varini – Altitude 150
GL events announces the acquisition of TEMP-A-STORE, the leading UK provider of temporary storage and warehousing solutions. With this acquisition GL events becomes the major player in this market within Europe.
Created in 1972, TEMP-A-STORE is today the leading specialist in the UK for temporary storage and warehousing solutions for logistics, industrial and retail companies. In 2005 the company is expected to generate sales of €7 million and has an operating margin greater than that of the Group.
Because of its excellent profit margin and solid foundations, this addition will contribute to enhancing earnings in the current financial period. In terms of the acquisition multiple, it is in line with the criteria of previous acquisitions of the Group and will be financed from available cash resources.
This acquisition reinforces the group position on the UK market and:
- Three years after the successful integration of OWEN BROWN within GL events will accelerate the development of Services for Business, an important growth driver for the division of "Fittings, Systems and Services for Enterprises"
- Increase the services offered by the subsidiary SF Protection already active on this business segment, and develop new synergies.
In line with the Group's corporate culture, management and employees will pursue their activity within GL events in a manner that will ensure the rapid integration of this new entity to be consolidated effective 1 July 2004.
Upcoming events: publication of first-half earnings on 7 September 2004 (after the close of trading) to be followed by the meeting and presentation of results on 8 September 2004.
GL events, bringing people together
Managing Director Corporate Finances and Administration : Erick ROSTAGNAT
Telephone : + 33 4 72 31 54 20
Fax : + 33 4 26 20 42 00
Email : email@example.com
Code ISIN : FR0000066672
Code Bloomberg : GLO FP
Code Reuter : GLTN.PA
Code FTSE : 581