BELIZE CITY, Belize, Dec. 3 /PRNewswire/ --
Carlisle Holdings Limited (Nasdaq: CLHL, London: CLH), a leader in outsourced
facilities services and staffing services, announces that on November 30 its
wholly owned subsidiary Carlisle Staffing Services Limited acquired Centre
Point Group Limited, which owns the business of Centre Point Group, a long
established staffing business based in London, (collectively the "Business").
The Business provides staffing solutions including the provision of temporary
and permanent staff and human resources and assessment services.
During the year ended December 31, 2000 the Business made income before
income taxes of approximately US$2.9 million and at the year end had net
assets of US$3.1 million.
The total consideration will comprise initial consideration being a fixed
sum and a sum payable in respect of net assets which is expected to total
approximately US$8.1 million and a potential deferred consideration based on
an earn-out which is not expected to exceed US$4.5 million.
The transaction is expected to be immediately earnings accretive to the
Company.
Forward Looking Statements
Certain statements in this press release constitute "forward looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. In particular, statements contained herein regarding the
consummation and benefits of future acquisitions, as well as expectations with
respect to future revenues, operating efficiencies, net income and business
expansion, are subject to known and unknown risks, uncertainties and
contingencies, many of which are beyond the control of Carlisle, which may
cause actual results, performance or achievements to differ materially from
anticipated results, performance or achievements. Factors that might affect
such forward looking statements include among others, overall economic and
business conditions, the demand for Carlisle's services, competitive factors,
regulatory approvals and the uncertainty of consummation of future
acquisitions. Additional factors which may affect Carlisle's businesses and
performance are set forth in filings by Carlisle Holdings Limited with the
United States Securities and Exchange Commission.
Note: This and other press releases are available at the company's web
site: http://www.carlisleholdings.com.
SOURCE Carlisle Holdings Limited
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CONTACT:
Carlisle Group, +1-561-368-3899; or Makinson
Cowell, +1-212-896-3814, for Carlisle Holdings Limited
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