Vehicle hiring company Facilities by ADF PLC (AIM:ADF) rallied over 13% on the AIM market this Thursday following the acquisition of location supplies provider Location One Limited.
The acquisition brings highly complementary services to ADF, with the companies having been long-term collaborators on previous productions, thus the board “believes that this is a significant step in becoming the premium one-stop-shop for film and high-end TV”.
ADF will pay an initial cash consideration of £4.4mln alongside the issue of 3.4mln ordinary shares.
Shares in the company are 15% up year to date with a market capitalisation of £47.5mln.