Wed, 18 May 2011 | BUSINESS SALE
Centrica has acquired a family-run property maintenance and repair business for £30 million.
The parent company of British Gas, Centrica, has purchased PH Jones in a bid to expand its Community Energy division. Started by Phil Jones and his wide Brenda from their garden shed in Cheshire in 1963, PH Jones has been in the family for almost 50 years.
Now, following the couple's retirement, they have sold two thirds of the firm to Centrica, whilst their sons continue to run the remaining utility services division, which boasts a yearly turnover of £15 million.
PH Jones currently provides central heating services and repairs to around 250,000 properties, alongside installing more than 8,000 central heating systems a year.
Managing director of British Gas Community Energy Betsy Bassis, said, “The acquisition of PH Jones significantly accelerates our growth strategy.
“PH Jones is a successful, profitable company in this sector and combining its strengths with those of British Gas will deliver important benefits for our customers,” she added.
The acquisition will also help social housing organisations to lower resident's carbon emissions, fuel bills and energy usage, says British Gas.
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