Lavendon: aiming high

Article Abstract:

Lavendon aims to raise from 8 million pounds sterling to 12 million pounds through a flotation which will allow gearing to be reduced. Funds raised will also permit the company to expand its network of depots within the UK to some 20 depots from 14. CinVen also aims to reduce its stake in the company to some 20% from 55%. The company is operating in an expanding market, with mobile platforms providing flexibility. The company reported a profit of 1.8 million pounds sterling for 1995 compared with 159,000 pounds for 1993.

Lavendon

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David Service: working out

Article Abstract:

Davis Service may acquire Spring Grove which would give the combined operation leadership in the UK market for workwear rental. Approval is needed for the acquisition from the UK Office of Fair Trading, though Davis Service does not see this as a problem. Spring Grove's margins could be boosted and there would be savings from a reduction in overheads. Spring Grove has a computer system, for example, that can be used for the combined group. Davis is carrying out a share issue to fund the purchase.

TEXTILE MILL PRODUCTS, Textile Mills, Mergers, acquisitions and divestments, Davis Service Group, Spring Grove

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Andrews Sykes

Article Abstract:

The outlook for UK pump, air conditioning, heater and plant hire firm Andrews Sykes is uncertain and its shares are rated as a 'sell'. There are particular problems at Cox Plant, its plant hire division, while Andrews Sykes' share listing is to be cancelled.

Heating, ventilation, and air conditioning industry, HVAC industry, Andrews Sykes

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