Fri, 06 Jul 2018 | BUSINESS SALE
Yorkshire-based Premier Technical Services Group plc (PTSG) has paid £3.5 million to acquire M&P Fire Protection Ltd that will be integrated into PTSG’s Fire Solutions services.
M&P Fire Protection is located in Maidstone, Kent and run by business partners Michael Thackery and Paul Atkins. The business creates and tests sprinklers and wet/dry riser systems for buildings, and claims to be a specialist in the installation and maintenance of such services.
The Castleford-headquartered Group will deposit an initial cash down payment of £1 million, and will pay the remaining £2.5 million recurrently over the next five years, providing it delivers on its profitability targets.
PTSG will retain M&P Fire Protection’s management group upon the completion of the deal, with Thackery and Atkins continuing to provide their services to assist with the growth of the team.
It was reported that M&P reached revenues of £2.1 million by the end of March 2017, with profits of £200,000 before tax.
Chief executive Paul Teasdale of PTSG said: “We are delighted to welcome M&P Fire Protection Ltd. To the Group. This acquisition extends the service offering of our fire solutions division and complements our wider provision as the UK’s largest niche specialist service provider.
“We are fully committed to the continuation of our successful strategy of achieving market leadership across the sectors in which we operate, and this acquisition strengthens our geographical coverage within the fire protection sector, particularly in London and the South East.
“We look forward to working with Paul and Michael and their colleagues to grow the business and expand the group’s activities in these key areas.”
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