Proventec Plc (AIM:PROV, Alternext:ALTPC), the provider of specialist steam cleaning and coatings technologies, is pleased to announce the acquisition of a 60 per cent. equity stake in Frank GmbH ("Frank"), one of Germany's oldest and most acknowledged engineering companies.

Founded in 1607 by Georg Graf von (Earl of) Nassau, Frank is a renowned manufacturer and distributor of hygienic products including portable high pressure washers and self-service vehicle wash stations across Europe, the Middle East, parts of Africa, China and other countries in Asia and the USA. Frank currently employs 25 staff.

In the year ended 2007, Frank generated turnover in excess of €2 million. It is anticipated that the acquisition of Frank will make an important contribution to Proventec's increasing revenue and profitability growth and will also contribute to the Company's profit per share. The acquisition has been mainly financed by the Company's existing cash reserves as well as by the issuance of locked-in shares (approximately 19,250 shares at today's Alternext opening price of €2.60 per share). The residual 40 per cent. minority stake of Frank will remain owned by Mr Samir El-Assal, the former owner who acquired the company in 2006 and transformed it in recent years into a break-even company with a recognised brand. Post acquisition, Mr El-Assal will remain as the Managing Director of Frank and, as such, will continue to oversee the day-to-day operations of the company.

David Chestnutt, Chief Executive of Proventec, said: "Frank is a remarkable company with a historic trading record. Our acquisition of this significant, controlling stake will contribute immediately to our revenue and profitability. Not only is Frank's range of products highly complementary to our own but their established global network of distributors offers many cross-selling opportunities and synergies. Strategically it offers Proventec the platform to exploit various possibilities in the industrial sector focussing on mobile and stationary water-based CIP (cleaning in place) technologies.

"Additionally Proventec recognises the growing market for automisation of cleaning and sanitation tasks in the industrial sector. Frank is well placed to become Proventec's "Centre of Excellence" for the development and manufacturing of such bespoke systems with its proven German engineering skills."

Further information on Frank and its product range can be viewed at www.frank-hdr.de
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