Print Published in 2006

Cello pays 15 times post-tax profit for Chiaros consultancy

AIM-listed Cello Group has paid £3.1 million to acquire Chiaros Holdings, the company that owns the organisational consultancy TMI UK and which incurred a loss in three of its last four financial years (before including a £500,000 gain on disposal of assets in 2003). Up to a further £1 million will be paid depending on the company’s performance in the period to 31 December 2009.