Kinetics’ Walmotts deal is a gas

A facilities management and construction services group has completed its third acquisition in nine months after buying a gas, oil and electrical installation and maintenance services provider.

Kinetics Group has added Walmotts, which primarily serves the social housing sector, to a portfolio that includes brands such as Seaflame, Camerons, TA Horn and Hudson.

Walmotts was sold by its founders for an undisclosed sum in a deal backed by private equity firm Sovereign Capital.

The acquisition of Birmingham-based Walmotts strengthens Kinetics’ national coverage by linking its existing businesses in the northwest with those in London and the southeast. It will also enhance the group’s position when tendering for larger contracts.

Kinetics will now have annual sales of more than £90 million with some 1,100 employees.

Post-completion, Howie Reynolds remains managing director of the acquired business.

This is the sixth facilities management acquisition Sovereign has completed in the past ten months and is in advanced negotiations with several other possible targets in the sector.

Walmotts was founded in 1983 and today has long-term contracts with local authorities and housing associations, such as South Kesteven District Council, Wolverhampton Homes, Sandwell Homes, Bromford Housing, Touchstone Housing Association and Birmingham City Council.

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

Related Topics