Lakehouse has announced the acquisition of Aaron Heating Services for an initial cash consideration of £6.7m.
It stated that the purchase complemented the current actvities of the Lakehouse group, which includes K&T Heating and recently-acquired Sure Maintenance.
Aaron Heating Services mainly provides services for housing associations and local authorities in East Anglia.
Lakehouse said its latest acquisition will extend its geographic footprint in the “gas servicing and maintenance market to provide national coverage to key clients”.
The move will also provide the opportunity to offer the group’s compliance services to its client base.
Aaron Heating Services managing director David Lummis and commercial director Jon Posey will remain with the business, which employs around 390 staff.
The company reported a turnover of £26.3m, with profit before tax of £0.9m, in the financial year ended 31 March 2015.
In addition to the £6.7m sum, further deferred consideration of up to £3.3m is included in the deal, dependent on Aaron Heating Services’ performance up to 30 September 2017.