The bustling Birmingham-based Capita Group Plc is acquiring West London-based ED&M Ltd, provider of property management services, for a maximum #5m: the initial consideration is #1m, together with a deferred payment of up to #4m, depending on ED&M’s profits over the three years to March 31, 1995; ED&M turned in pre-tax profits of #303,000 on sales of #4.6m for the year to September 30, at which time it had net assets of #298,000 and an order book level of #8.7m; the firm’s main client is South Western Thames Regional Health Authority; in addition to property management services, ED&M provides obscure services such as X-ray and steriliser testing, and commissions surveys and health and safety audits; the 92-strong firm will boost Capita’s new property services operation, which reports to Capita’s facilities management arm; the initial consideration has been satisfied by the issue of 132,029 new Capita shares and the payment of #592,000 cash.
