As a result of Sovereign’s buy-and-build strategy, Kinetics has grown from a £32m (€41m) revenue business in 2006 to a company with annual sales in excess of £100m (€128m) and now directly employs 1,200 staff nationwide with main offices in London, Liverpool, Manchester and Birmingham.
The directors of Lord, Janet and Andrew Lord, are to remain in the business going forward and will assist with its integration into Kinetics and the development of existing customer relationships.
Simon Hitchcock, a director at Sovereign, said: “Achieving critical mass in fabric maintenance in the North West is an important step for Kinetics. The combined scale of Lord and Camerons will enable Kinetics to tender for other, larger contracts in a region which is witnessing substantial local authority expenditure to improve the UK’s third largest pool of social housing stock. This acquisition, the fifth for the overall group in less than 15 months, clearly demonstrates the value-add of Sovereign’s buy-and-build strategy.”
Chris Cheshire, group managing director at Kinetics Group Ld, added: “The acquisition of Lord complements Kinetics’ existing fabric maintenance business, extends the geographic reach in the North West and brings some of the region’s key framework agreement contracts to the group. We look forward to developing the combined fabric maintenance business to take advantage of our newfound scale and to maximise cross-selling opportunities into our gas maintenance and MOD divisions.”