Wed, 29 Mar 2023 | BUSINESS SALE
Ayrshire-based construction, property and investment firm Edison Group has continued its M&A activity with the acquisition of Crown Architectural Systems. The target is Edison’s third acquisition of the year so far and the firm says it has two further deals set to close over the coming months.
Crown Architectural Systems, founded in 2007 as Crown Doors and Shutters, is an established supplier of systems including doors, windows, curtain walling and shutters. The company is based at a 6,500 sq ft facility in Washington, City of Sunderland, Tyne & Wear, and works with clients including Greggs, the University of Northumbria and Audi.
Announcing the acquisition, Edison Group CEO Calum Melville said: “Crown Architectural Systems is a specialist supplier to Tier 1 construction customers of windows, doors, curtain walling, fire shutters, roller shutters and security grilles, and represents a highly complementary addition to our existing portfolio of expert specialist supplier businesses.”
Melville detailed Edison’s growth plans for the new acquisition, saying: “It has contracted revenue for 2023 of £6 million and it is our aim to have this increase to £10 million in the year to December 2024. There are currently 29 employees in the business and we anticipate that we will create 14 new jobs this year.”
“This acquisition represents our most important move to date into the construction industry market in the north of England and we plan to develop Crown ASL, as a UK-wide operator as we win yet more business in the wider UK construction sector.”
The latest acquisition comes in the wake of two deals completed by Edison Group so far in 2023. In January, the firm acquired Glasgow-based property maintenance firm GDC Design, before moving for Livingston-headquartered driveways contractor The Edinburgh Driveway Company the following month.
Following the latest acquisition, Melville discussed Edison’s future M&A plans, with the group close to securing two more acquisitions and targeting further deals beyond that. He said: “I lead an ambitious business and this acquisition is just the latest manifestation of our determination to continue to grow rapidly.”
“Edison Group is currently in legal stages with two further acquisitions which we anticipate will complete in April and May 2023 respectively. These will bring bringing consolidated sales on a rolling 12-months to £26 million.”
“We remain firmly in the market to acquire businesses that are complementary to our group activities [and] are investing substantial sums to build an infrastructure and platform to drive growth over the next few years.”
“Our consistently expanding offering includes construction, project management, architectural services, bespoke joinery, furniture manufacture, interior design, interior fit out, all trades, driveways, landscaping, property maintenance and refurbishment.”
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