ESR Ensor Hldgs

RNS Number:7796V
Ensor Holdings PLC
10 May 2002



Ensor Holdings plc

Acquisition

10 May 2002



Ensor Holdings plc ("Ensor") announces that it has today completed the
acquisition of the whole of the issued share capital of CMS Tools Limited
("CMS"). CMS distributes specialised tools and accessories to the roofing trade.

The consideration payable for CMS is £2,000,000 payable in cash as follows:

-      £1,800,000 on completion;
-      a further £100,000 if the net assets of CMS as at the date of completion 
       are £800,000; and
-      a further £100,000 if the operating profit of CMS for the year to 
       31 December 2002 is more than or equal to £500,000.

In the event that the net assets are more or less than £800,000 then the
consideration is adjusted up or down by £1 for each £1 by which the net assets
exceed or are less than £800,000 respectively. The directors of Ensor do not
expect the net assets of CMS at the date of completion to be more than £900,000.

In the event that the operating profit of CMS for the year to 31 December 2002
is less than £500,000, the consideration is to be reduced by £1 for every £1 by
which the operating profit is less than £500,000.

The net assets in the last published audited accounts of CMS to 31 December 2001
were £658,000 and the profit before tax was £533,000.

Mr S Smith, one of the vendors, will be retained by Ensor to continue to manage
CMS. However, no additional directors are will be appointed to the board of
Ensor as a result of this acquisition.

The acquisition forms a part of Ensor's strategy to focus its activities on the
distribution of building products and to make suitable strategic acquisitions
when the appropriate opportunity arises.



Enquiries:
Ensor Holdings plc
Tony Coyne, Chief Executive                           Tel: +44 (0) 161 945 5953

Brown, Shipley & Co. Limited
Philip Johnson                                        Tel: +44 (0) 161 214 6540



END



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