Plant hire services firm Speedy has acquired Geason which operates from a head office in Glasgow.

Geason is one of the leading providers of construction and professional services training across the UK. It has over 1,100 apprentices and 500 NVQ learners currently on programmes.

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Cash consideration paid on completion amounted to £9m with net cash assumed of £0.3m. Contingent consideration of up to £26m may be payable in cash based on a multiple of 3.25x EBITA, dependent on the combined performance of Geason and Speedy's training business in the three years post acquisition.

Russell Down, Chief Executive of Speedy, said: "This acquisition expands our training services offering and allows us to deliver flexible, progressive training programmes to support customers across the UK. I warmly welcome Ian, Robert and Geason employees to Speedy."