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QTS Bought Out


gamla

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Morning All

There's been a stock market announcement that QTS have been bought out by Renew Holdings for £80 million:-

https://www.investegate.co.uk/renew-holdings-plc--rnwh-/rns/acquisition-and-placing/201805090700084321N/

Alan McLeish, Managing Director of QTS, commented:

"QTS is delighted to be joining the Renew Group and we very much look forward to the future as part of a larger group. The transaction will provide opportunities to expand our market share and benefit from the synergies with their existing successful brands working in highly regulated sectors. It was important to attract an owner with relevant expertise to support our growth ambitions without compromise to customer service or staff loyalty, the Renew business model fits perfectly with these aspirations."

Wonder what Mr Mcleish will do with any of the cash that comes his way from the sale......

Gamla

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1 minute ago, gdevoy said:

"....and benefit from the synergies...."

A freely used euphemism in free market capitalism for "job cuts".

 

Not necessarily it could be that the new owners have a wish to get into sell their services into markets already served by the QTS brand and can use the QTS guys to sell this, and likewise for QTS.  Doesn’t always mean job cuts.

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my boss has just said to me that we’ll (amco) probably start using qts for the likes of road railers and rope access guys so might mean more work for them instead of job cuts, i’d expect they’ll still have plenty of there own works ongoing as well as getting into others now 

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On ‎5‎/‎9‎/‎2018 at 8:59 AM, killiekosmos said:

I wonder if (Alan McLeish) will stay with the enlarged company?

"The experienced and strong operational management team of QTS are being retained to continue to drive the business forward under Renew's ownership. In line with Renew's operating model, the QTS brand will be retained and the business will operate as a standalone subsidiary, with Group oversight and support."

 

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