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Company News Summary

Qube Holdings Announces to Acquire LCR Group

10 May 2019  |  16:21:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Qube acquires mining and industrial services company LCR

Qube Holdings announced that it has acquired LCR and its subsidiaries (LCR Group). Total consideration was in the order of $135m which was funded through the Company's existing undrawn debt facilities. The Company updated that LCR is a specialist provider of outsourced industrial logistics services, operating across mining, heavy transport, mobile crane and renewable energy industries including Oil and Gas. As reported, the Company and LCR Group are aligned in their business models which are driven by a strong safety culture, a solid and stable team, and a strong ethos to work with local communities rather than simply in them. The Company further updated that the acquisition of LCR is not expected to have a material impact on their net profit after tax.

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