Sat, 03 Oct 2026 | BUSINESS SALE
Cardo Group, the private equity-backed building maintenance company, has acquired Aspect Group Services, a roofing, renewables and property maintenance specialist based in Wymondham, Norfolk. The deal extends Cardo's national maintenance platform into East Anglia and is its 17th acquisition in under three years.
Aspect generated revenue of £20.5m in the year to April 2026 and employs more than 150 directly employed and specialist subcontract staff. It traces its origins to 1972, when it began trading as a roofing contractor in Norfolk, and adopted the Aspect Group Services name in 2016. The business works across the private, commercial and public sectors, handling everything from minor repairs to major improvement programmes.
The company runs three divisions. Its roofing arm delivers pitched and flat roofing programmes, its property services arm carries out planned and responsive refurbishment and maintenance for housing associations, schools, health bodies and local authorities, and its renewables division, Aspecte, installs energy efficiency and renewable technology across those sectors. Managing director Matt Dillon and his team will join Cardo.
For Cardo, the acquisition adds regional density and a renewables capability to a group that has expanded rapidly through dealmaking. The group now employs more than 2,200 people across the UK and Ireland and expects to generate around £500m of revenue in its 2027 financial year. In its most recent accounts, turnover nearly doubled to £314m.
Cardo was formed in 2023 when Liam Bevan sold LCB Group, the Cardiff social housing maintenance contractor he founded, to private equity firm Buckthorn Partners, with Souter Investments joining the backing syndicate. Bevan stayed on as chief executive, and LCB became the first acquisition in a buy-and-build strategy designed to consolidate fragmented regional contractors into a national provider of repairs, compliance, planned maintenance, retrofit and decarbonisation services for social landlords and the public sector.
The pace has been quick. Earlier deals include the Cardiff decorating firm A&N Lewis, Breyer Group's roofing division, energy contractor SERS Energy Solutions, and CTS Projects, which brought more than 65,000 public sector properties in Northern Ireland and the Republic of Ireland. Aspect strengthens the group's roofing and renewables offering in a part of the country where it had limited presence.
Matt Dillon, managing director of Aspect Group Services, said: "Joining Cardo Group marks an exciting new chapter for Aspect Group Services. Since the business was founded more than 50 years ago, we have built a strong reputation for dependable delivery and specialist services across East Anglia.
"This partnership will allow us to build on our heritage, strengthen the services we provide and create new opportunities for our staff and suppliers, while continuing to provide the responsive, high-quality, trusted service our customers and partners expect, supported by the additional investment, capability and expertise of the wider Cardo Group."
Liam Bevan, chief executive of Cardo Group, said: "Aspect Group Services is a strong addition to Cardo Group, bringing highly regarded expertise across roofing and building maintenance and its track record as a leading provider of property services in East Anglia.
"We look forward to welcoming Matt and the entire Aspect team to Cardo Group. Together we will continue to invest in excellent service delivery, while retaining the specialist knowledge and regional focus that are key to delivering essential property services well."
The deal reflects a wider trend in UK building maintenance, where private equity is backing consolidators to roll up regional specialists into national platforms. The pull is a steady pipeline of long-term public spending on social housing repairs, compliance and energy efficiency, including work tied to the Decent Homes Standard and the drive to decarbonise the UK's housing stock, which favours scaled providers able to service contracts across multiple regions.
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