Based in Wigan, Jackson Lloyd provides a range of maintenance services to local authorities and housing associations in the North West of England. In this region alone, the social housing maintenance market is said to represent a £1 billion opportunity and Jackson Lloyd hopes to increase its exposure to this with the aid of Gresham’s cash.
‘We believe we are now extremely well placed to exploit the significant opportunities available,’ comments Jackson Lloyd chief executive Bill Lloyd, who says Gresham was one of eight firms interested in investing.
Olaer, meanwhile, which designs and assembles pressure regulators and coolers for the industrial hydraulic market, has been acquired by a team headed by chief executive Mike Blenkinsop, with Gresham’s support.
Currently operating in the UK, Scandinavia, France, Switzerland and the US, Olaer generated a £4 million profit from £70 million of revenue last year. According to Gresham’s Edward Brett, Olaer’s ‘industrial pedigree and strong technical base,’ were the key lures.