Contractor set to fund 拢31m acquistion of Scottish buildings services group through share issue

Contractor ROK looks to acquire Tulloch Construction Group after entering into a conditional agreement with the Scottish building services group. The 拢31.3m acquisition is to be funded through the issue of shares.

In the year ended 31 December 2005 Tulloch Construction Group鈥檚 generated turnover was 拢107m and operating profit was 拢3.3m and Rok directors believe that, with its strong local presence in Scotland, Tulloch will fit well with its existing operations.

The acquisition is expected to be completed on 3 October and David Sutherland, the executive chairman of Tulloch Ltd, has agreed to join the board of Rok as a non-executive director on completion.