Law firm Gordons advises on third acquisition in two years for AIM listed Brulines
Monday 27th October 2008
Leeds and Bradford law firm Gordons has advised real time monitoring systems and data management service provider Brulines on the acquisition of Edensure Ltd – a specialist provider of advanced wet stock management systems for the UK petrol retail industry. The acquisition has been completed for a total of £220,000, to be paid in cash.
Based in Stockton on Tees, Brulines provides draught alcoholic drinks volume, quality, machine and profit protection systems for more than 22,000 pubs across the UK. Using state-of-the-art technology, the company accurately monitors operational activities, as well as volume and revenue protection.
The deal represents the third acquisition for Brulines since it floated on AIM in October 2006, after taking a controlling stake in Coin Metrics in 2007 and acquiring its closest rival, Nucleus Data, in January 2008 – all of which were advised by Gordons.
This latest deal was negotiated on behalf of Brulines by Jonathan Asquez, senior corporate solicitor with Gordons.
Speaking of the deal, Jonathan said: “Gordons has a longstanding relationship with Brulines and I am delighted to have advised on this latest acquisition”.
“Brulines is market leader in its core Leisure markets and this deal provides an opportunity for the company to become a major player in an adjacent and complimentary market helping to ensure Brulines continued growth”
James Dickson, chief executive of Brulines Group plc, commented: “The Edensure business provides a natural extension to our core capabilities and the acquisition takes Brulines into a new adjacent market. It provides leading edge proprietary software and a commercial platform from which we can accelerate the enlarged group’s penetration into the UK petrol forecourt market.
“Brulines will help drive Edensure’s growth in this space. There will be benefits to existing customers due to Brulines’ established national infrastructure, data analysis ability, and our reporting expertise. The synergies between the companies, whilst modest, are expected to allow this acquisition to be earnings neutral in the year to March 2010.”