The Kinetics Group, a facilities management firm working in the social housing sector, has bought Birmingham-based Sureway Gas for an undisclosed sum.
The acquisition, funded by private equity specialist Sovereign Capital, brings the number of people employed by the group to over 1,250, with an annual turnover of £115 million.
It is the second acquisition by Kinetics of a heating company in the Birmingham area, having bought Walmotts in 2007.
The Kinetics Group hopes these acquisitions will provide it with the “critical mass” to compete for larger contracts in the Midlands.
Brothers Paul (left) and Terry Griffin (right) established Sureway in the late 1970s after working for British Gas.
Mr Griffin said: “Our industry is changing rapidly. Our customers are looking for contractors who can deliver more and more trades from one source and Kinetics Group can do that. The fit with Walmotts is ideal because its reputation has been built on installation work and ours on servicing.
“With the backing of the Kinetics brand, we can now compete for larger, more complex contracts, while maintaining our core customer base. It is an exciting time for everyone at the company.”
Sureway manages some 22,000 properties from Telford, Gloucester and Worcester, as far north as Manchester and east to Peterborough, Milton Keynes and Northampton.
It counts Sandwell Homes and Beth Johnson Housing among its clients.
One of the attractions for the Kinetics Group was Sureway’s work on its in-house Chronos PDA system.
The device allows call centre staff to allocate work according to real-time information and it lets engineers order parts automatically.
It can also deliver readable CP12 certificates, which verify that the gas installation is in good working order.