Trading, Maintenance et Services (in short "T.M.S.") is a company organised under the laws of Belgium. Part of its shares is negotiable on the free market of Euronext Paris. Also TMS Overseas is a company Organized under the laws of Belgium and both have the headquarters located in Liegie.
GB Group is pleased to announce that on August 1, 2008 has acquired the 77 % of the TMS share capital and the 100% of TMS Overseas. GB Group is one of the major manufacturer and distributor of spare parts in the sector of agriculture and industry. GB Group has realized a consolidated turnover of over EUR 200 million in 2007. The group is active in many countries and operates via its subsidiaries in Italy, the USA, United Kingdom and South Africa. Thanks to this operation, GB Group will reach a turnover of almost US $ 500 million by the end of 2008.
TMS is specialized in the worldwide distribution of spare parts for building and civil engineering materials and for trucks. Present in over 40 countries thanks to its agencies' network of and its subsidiaries in the USA, France, Brasil and Spain, TMS group has realized a consolidated turnover of EUR 57 million in 2007.
TMS and GB Group are active in the same sector and offer many complementarities: thanks to a strong commercial penetration in Center Africa, Russia and other countries TMS's association with GB will ends up on a perfect integration between the 2 companies.
TMS's value has been estimated about EUR 50 million: GB's initial investment was around EUR 21.5 million, and the entire operation has been settled thanks to a funds granted by a pool of italian banks.
The sale has been realised at a provisional price of EUR 18.02 per share, which will still be subject to certain adjustments, in particular depending on the operating results of 2008.
The previous controlling shareholders keeps a participation of 15% in the share capital of TMS and the management team will remain in function after the transaction.

GB Group has acquired Equipment Spare Parts (Africa) ("ESP"), a leading distributor of spare parts for approximately $10 million in cash.
ESP is the leading South African supplier of replacement spare parts for industrial machines, with a wide product range including undercarriage and miscellaneous parts.
ESP is comprised of three divisions, namely the AMT Division, the ESP Division (includes TSP) and the GET Warehouse Division and operates through 13 branches covering the entire South African market. ESP has sales in excess of $30 million and employs over 250 people. GB Group, through the acquisition of the ESP, intends to build a competitive distribution platform for the promotion of its products in the South African market and adjacent territories.
ESP's management have retained a minority shareholding in the company and have maintained their positions and responsibilities held prior to the transaction.
With the successful completion of its sixth acquisition, in 2007 GB Group aims to generate consolidated sales of approximately $300 million.

GB Group has successfully completed its takeover of BEPCO Group, the fifth company to join the Modena, Italy group.The English BEPCO group is specialised in distributing multi-brand spare parts for agricultural tractors in the aftermarket field.Its turnover in 2006 totalled 50 million euro, and its operations extend internationally through group-held companies and branches in France, Belgium, Germany, Holland, Spain, South Africa and Australia. Together with the "normal growth" of its core business, this new acquisition will allow the GB Group to achieve a turnover of more than US$ 260 million in 2007