Mitie Group plc has acquired a majority stake in Source Eight Limited, a real estate, technology and risk management consultancy.
Source8 delivers real estate, technology and risk management consultancy services to global corporations, with particular expertise in emerging markets and complex environments. The company had turnover of £4.5m in 2013. The initial consideration payable is a maximum of £2.95 million, with £2.5 million paid in cash on completion, and the remainder payable dependent on performance targets. Further consideration is payable in cash up to a maximum of £12.5 million (£15.45m total consideration) depending on financial performance over a five year period.
UK, Bristol & London
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