Thonger Safety Associates
London
About Thonger Safety Associates
Thonger Safety Associates provides health, safety and environmental services to the oil and gas industry on an international basis. TSA is a partnership and trades as Geophysical Safety Resources or “GSR”. It was founded in 1988 and provides health, safety and environmental services to the oil and gas industry. It is based in East Sussex and undertakes projects on an international basis. It operated in collaboration with Exploration Consultants Ltd (ECL) before that business was acquired by RPS in September 2005 and has subsequently continued to work with RPS Energy. It will now be fully integrated with RPS Energy. Rod Thonger, the managing partner, will remain with RPS. In the year ended 30 November 2005 TSA had revenues of £2.4 million and profit before tax of £0.4 million. Net assets at 30 November 2005 were £0.7 million. RPS has acquired the assets, certain liabilities and the goodwill of TSA for a total consideration of approximately £2.5million. £1.2 million was paid in cash at completion. A further £0.4 million in cash will be paid and 91,912 new RPS shares will be issued to the vendors on each of the first and second anniversaries of the transaction, subject to certain operational conditions being met.
Company Facts
- Operating status: Active
- Company type: For Profit
- IPO status: Private
- Website: gsr-hse.com
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