Mon, 28 Oct 2024 | BUSINESS SALE
Private equity-backed fire, security and electrical compliance services firm ABCA has made its fourth acquisition in the space of just eight weeks.
Newcastle-based ABCA Systems Group has bought Prescot-headquartered Citrus Group electrical installation and repairs business. It specialises in electrical installation, repairs and testing services, particularly for local authorities and housing associations across the Midlands and Northern England. It has almost 50 employees.
ABCA, which in early September bought Southport-based access control systems firm Maintec Limited, Blackburn-based electronic security solutions provider AGS Tech Limited and Clitheroe-based security doors and gates manufacturer HBS Fabrication Northwest Limited, believes the Citrus deal will significantly enhance its existing capabilities in the electrical compliance solutions space, while also expanding its footprint in the North.
ABCA made its first acquisition in 2020 and subsequently secured backing from private equity firm Trimountain Partners and Santander UK PLC in 2021, in a deal that enabled it to target further transactions.
ABCA is led by group chief executive Phil Miller, who took over the family business from his father in 2005. Since then, the group has grown to generate more than £40 million in annual turnover.
Miller said: "Citrus aligns perfectly with our strategy to broaden our capabilities in key regions and service areas like electrical compliance, which are relevant to our existing and new customers and where we see growing demand. The Citrus team's expertise and dedication to safety and quality make them a valuable addition to ABCA."
Jack Stockton, owner of Citrus Group, said joining ABCA Systems was a "natural progression". He said: "Through this sale to ABCA, we will be able to extend our expertise and services into the electrical compliance space more effectively, which will only strengthen our offering to local authorities and housing associations."
Daniel Kelly, operations director at Citrus Group, was equally as enthusiastic. He said the move will "create a brighter future for all parties concerned and will strengthen the group with a level of unprecedented growth".
Read more about ABCA's acquisition spree last month
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