May Gurney buys mobile telecomms maintenance specialist FDT Holdings

May Gurney has bought Manchester based mobile telecommunications inspection and maintenance specialist FDT Holdings for £3.5m.

The deal involves a £2.9m cash payment on completion with a further £600,000 payable depending on certain key contract wins.

In the year to 30 April 2007 FDT made pre-tax profits of £600,000 on a turnover of £5.2m.

David Sterry, chief executive of May Gurney, said: “We are delighted to welcome a company whose customer-orientated culture and focus on long-term partnerships is aligned to ours.  This acquisition delivers on our strategy for building the business, complements our strong and established presence in the utilities and highways maintenance markets and positions us well in the telecoms marketplace.”

Darren Bardsley, director of FDT said: “The combined skills and resources of a larger business enable us to play a more significant role in helping our customers to effectively maintain their infrastructure assets over the coming years and exploit the true potential of this growing market. We look forward to growing the combined business and integrating our teams to great effect.”