ISG buys French fit-out company for £7.4m

Construction and fit-out firm ISG has bought French retail design and fit-out company Alpha International for £7.4m.

ISG will pay £1.5m up front with the rest of the balance contingent upon Alpha’s performance.

It hopes the acquisition, which will see ISGs European fit-out service merge with Alpha, will accelerate its growth in Europe, further strengthen its management team and provide a fully integrated design and fit services for existing customers in France and Italy

Real-time Share Price David Lawther, chief executive of ISG, said: “The Alpha acquisition is a key part of our continuing international expansion strategy and we are delighted to have acquired this capability within ISG. The acquisition will widen our international retail client base and provide a broader retail service offering to our clients in Europe.”

Alpha will have to meet before tax profit targets from ISG before being paid the remaining £5.9m balance, 80% of which will be paid in cash with the rest in ISG shares.