BH Global to buy distributor's business

Oct 19, 2005
The Business Times

MARINE products procurement specialist BH Global Marine said it has entered into a memorandum of understanding to acquire the business of Yorkshire Marketing & Engineering, a distributor of marine lighting equipment and accessories, for $700,000. BH Global, which will fund the acquisition through IPO proceeds, said the move is not expected to have a material impact on the company's financial performance for FY2005. Yorkshire's management will provide a profit guarantee of at least $400,000 in gross profit per year, commencing from FY2006, with the warranty period of one to three years to be discussed.