Northamber plc (AIM:NAR) acquired Renaissance Contingency Services Ltd from Michael Conway and Denis Woods for ?0.9 million on July 1, 2024. The total consideration of ?0.9 million, comprises of ?0.6 million in cash paid following completion of the acquisition and Performance based contingent consideration of up to a maximum of ?0.3 million, based on the EBITDA for three financial periods ending 30 June 2025, 2026 and 2027. If it becomes due, the Contingent Consideration will be paid in three instalments with the final payment due to be made following completion of the audit of the enlarged group's accounts for the financial year ended 30 June 2027. The Initial Cash Consideration will be funded from Northamber's existing available cash and debt facilities. The Company anticipates that the Contingent Consideration will be paid in the same way. Following the Acquisition, the Renaissance business will become a wholly owned subsidiary of the Company. Michael Conway and his team have agreed to continue with the business to assist initially with the integration of Renaissance into the Northamber group and thereafter to drive growth in the Company's activities in Ireland, following the recent acquisition of Tempura Communications.

Philip Davies and Finn GordonSinger Capital Markets Limited acted as financial advisors to Northamber plc.

Northamber plc (AIM:NAR) completed the acquisition of Renaissance Contingency Services Ltd from Michael Conway and Denis Woods on July 1, 2024.