03 December 2001 CARLISLE HOLDINGS LIMITED ACQUIRES CENTRE POINT GROUP IN THE UK Belize City, Belize, December 3, 2001 -- 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.
For further information contact:
Carlisle Group 561-368-3899
Makinson Cowell 212-896-3814
Note: This and other press releases are available at the company’s web site: http://www.bbholdingsdemo.com.