Wed, 30 Sep 2026 | BUSINESS SALE
West Midlands-headquartered lift maintenance and repair specialist Pace Group has acquired three businesses in a move that takes its total number of acquisitions since securing LDC backing to 20.
The group, which maintains and repairs elevators, service lifts and stairlifts, has brought Devon-based Ideal Lifts Services, Kent-based Elevators Ltd and Cheshire-based City Lift Services into the business. Terms of the deals have not been disclosed.
The acquisition of Ideal Lifts Services, headquartered in Okehampton, gives Pace Group a presence in the South West of England for the first time. Together, the three deals add 2,000 units to the company's portfolio, bringing the total to around 15,000, and 30 staff across office and field engineering roles, taking total headcount to about 240.
LDC backed Pace Group's management team, led by Directors Scott Haywood and Lukas Schlenker, in July 2024. Since then the company has made 20 acquisitions and grown revenue from around £19 million to about £40 million.
Lukas Schlenker, Director of Pace Group, said: "Bringing Ideal Lifts Services, Elevators Ltd and City Lift Services into the Pace family marks an important milestone for us."
"In just over two years, we've expanded rapidly across the UK, while preserving the service, quality and compliance culture that continues to underpin our success. We're looking forward to working with all three teams as we continue to invest in our capabilities and build a leading national lift maintenance business."
Matt Newbold, Investment Director at LDC in the West Midlands, said: "Scott and Lukas continue to deliver strong growth organically and through acquisitions. These three high-quality acquisitions will further strengthen Pace Group's depth of nationwide coverage, enhancing service-levels to existing and new customers. We're pleased to support the team as they continue their growth across the UK."
M&A is on the rise in the UK's facilities management industry, driven by the sector's inherent resilience and a shifting building compliance landscape
This is an exceptional opportunity to acquire a well-established industrial engineering and mechanical services company in Dublin, known for its reliability and craftsmanship across diverse sectors.
This exceptional architectural engineering and fabrication business offers an in-house team with extensive expertise and operates from a state-of-the-art facility, providing services to blue-chip clients like Nandos and Hilton Hotels.
This is a well-established engineering firm specialising in automation and control systems, serving multiple industrial sectors across the UK since 2012.
Looking for more businesses? Try our off-market tool.
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.