West Lancashire-based Jackson Lloyd provides maintenance services to private and public sector property organisations, mainly in the North West. The company’s services include home refurbishments and industrial electrical installations.
In the 15 months to March 2010, Jackson Lloyd reported a pre-tax loss of £3.8 million on a turnover of £38.6 million. Net liabilities of around £1.4 million including a net debt of £2.1 million were repaid upon acquisition from Mears Group’s existing banking facility. The company currently has more than 400 employees.
Bob Holt, chairman of Mears, says: ‘The acquisition of the Jackson Lloyd business fits comfortably into our social housing division and broadens our footprint in the North West of England. We continue to seek to acquire businesses with the potential to meet the strategic objectives of the Group.’
Gloucester-based Mears provides maintenance and repairs services for social housing to local authorities and social housing landlords. The company employs over 12,000 people and provides maintenance and repairs services to 500,000 homes nationwide. Mears also provides domiciliary care services to local authorities and primary care trusts.
Mears plans to merge Jackson Lloyd with its existing North West business.
Clearwater Corporate Finance advised the shareholders of Jackson Lloyd on the sale.