Specialist acquisition
Fenner subsidiary, Fenner Dunlop Conveyor Systems and Services, has acquired all of the operating assets and liabilities of Colorado-based conveyor belt specialist KESCO for $1.9m.
Fenner subsidiary,
, has acquired all of the operating assets and liabilities of Colorado-based KESCO for $1.9m.
KESCO is a privately owned business specialising in the provision of sales, splicing, repair and installation of conveyor belt systems.
Al Bonneau, the major shareholder in KESCO will continue to work with the business as part of Fenner, which is based in Hessle, East Yorkshire.
As part of the terms of the acquisition Al Bonneau is required to make an open market purchase of $500,000 of ordinary shares in Fenner and hold the shares until the first anniversary of the completion date.
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