Lakehouse buys heating company in £10 million deal

Mon, 02 Nov 2015 | BUSINESS SALE

The assets and energy support services group Lakehouse has completed a multi-million pound acquisition of Aaron Heating Services.

Based in East Anglia, Aaron Heating Services employs almost 400 people and provides installation and servicing for heating systems. It has been bought by Lakehouse for an initial cash sum of £6.7 million and a further deferred consideration of up to a maximum of £3.3 million, Insider Media reported.

In the year to 31 March 2015 Aaron reported a turnover of £26.3 million, with a pre-tax profit of £900,000.

The business acquisition will extend Lakehouse's geographical reach as it attempts to strengthen its nationwide energy service offerings. Furthermore, the deal complements the current activities of Lakehouse's other gas compliance businesses: K&T Heating and Sure Maintenance.

Dawn and Allan Wright founded Aaron back in 1985. In the 30 years since, the firm has grown to include a workforce of 390 people, with the majority of the staff being engineers. Its company headquarters are in Ipswich but the business also has regional offices in Essex, Norfolk, Northamptonshire and Lincolnshire.

The Wright family own the business but it is run by managing director David Lummis and commercial director Jon Posey. Both Lummis, Posey and the rest of the current management team will reportedly remain with the business post-acquisition.


View other businesses for sale.


Share this article



Latest Businesses for Sale

Multichannel Print & Media Management Company
UK Wide

Our client is a market-leading print and media management company, utilising changing trends and technologies to remain at the forefront of its sector. Offers invited.

Asking Price: Offers Invited
Turnover: £9,900,000

Diving Equipment Business
UK Wide

Established for over 37 years, the company has developed a strong industry reputation for providing consistently high-quality and high-performance diving equipment, complemented by excellent levels of customer satisfaction. The company offers a compr...

Asking Price: Offers Invited
Turnover: £997,000

FREEHOLD


Supplier of Products to Security Wholesale
UK Wide

Opportunity to acquire the entire issued share capital of a UK based supplier of infrastructure, power supply, transmission and ancillary equipment to the Security industry. A strategic buyer can benefit from the Company's extensive product range and...

Asking Price: Offers Invited
Turnover: £1,649,000


View more businesses for sale

News Search

Latest News

 
17
 
Oct
 

SYNETIQ acquires motor remanufacturer Motorman | BUSINESS SALE

Salvage and vehicle recycling company SYNETIQ Limited has ac...

 
17
 
Oct
 

Sealant company makes its first acquisition in Yorkshire | BUSINESS SALE

SD Sealants, a sealant and cosmetics repair business headqua...

 
16
 
Oct
 

Automotive supplier completes MBO | MBO/MBI

An automotive products supplier located in South Yorkshire h...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources