Creston acquires Cooney/Waters

http://www.marketwire.com/press-release/Creston-plc-Poised-Acquire-US-Healthcare-Communications-Businesses-over-USD30-Million-1360852.htm

Based in Manhattan, New York, and with a staff of approximately 50 people, Cooney/Waters and Alembic Health Communications (together the "Cooney/Waters Businesses") are specialist communications agencies with an exclusive focus on healthcare and pharmaceutical PR and health advocacy.

The total cash consideration of up to £19.5 million ($30.8 million) is to consist of:
An initial consideration of £5.9 million ($9.4 million) payable on Closing; and
An additional earn-out consideration of up to a maximum £13.5 million ($21.4 million) payable in two instalments based on the averaged combined earnings before interest and tax of the Cooney/Waters Businesses for the periods from Closing to 31 March 2013 and 31 March 2015.