Mon, 18 Sep 2023 | BUSINESS SALE
Cardo Group, a Cardiff-based startup providing maintenance, compliance, retrofit and decarbonisation services for social housing providers, has completed its third acquisition in the space of a few months. The firm has acquired building maintenance specialist Jefferies Contractors, as part of its strategy of acquisitive growth across the UK.
Cardo Group was founded earlier this year and, in May, struck its first deal with the acquisition of Cardiff-based construction firm LCB Group. Earlier this month, the group completed its second acquisition with a deal for Osborne Property Services, which is based in the South East of England.
Jefferies Contractors has sites in Pontyclun and Cannock, Staffordshire and specialises in social housing repairs and retrofits. The firm was founded in 2008 by Terry Ware, who will become Cardo Group’s Operations Director post-acquisition, while fellow Jefferies director Leigh Bullock will become the group’s new Managing Director.
The deal takes Cardo Group’s annual turnover up to £115 million and expands its workforce to more than 650 staff. The group is seeking to double its turnover in the next three years, as it continues its expansion across the UK.
Liam Bevan, Cardo Group Chief Executive and LCB Group founder, commented: “This is the third company we have acquired with strong shared values and a demonstrable ability to improve the quality, energy efficiency and warmth of social housing homes and other properties.”
"This collective reputation gives us a strong foundation to seize emerging business opportunities. The acquisition of Jefferies extends Cardo Group’s geographical reach into the midlands and we are looking to build on that with a target to double Jefferies’ turnover in the next 3 years.”
Leigh Bullock added: "This will provide us with the investment and support of a group determined to prudently and sensibly grow its footprint and which is led by highly respected industry players. This will facilitate our future growth within the market.”
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