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.
This unique business excels in the import and distribution of hairpieces across diverse sales channels, boasting a vast product range designed to look natural for all customer segments. With strong supplier relationships and a multifaceted sales stra...
This established business is a leading provider of customised boiler analysis systems, boasting strong, long-term relationships with prestigious clients in the power, refinery, and defence sectors. With a talented team and a solid presence in interna...
This business offers a strategic position as a UK agent for a renowned recycling machinery manufacturer, serving a robust client base that includes international blue-chip organisations. With opportunities for expansion into new sectors and a fully r...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.