Sovereign backs sixth Kinetics bolt-on

Kinetics Group, a UK facilities management company owned by private equity firm Sovereign Capital, has completed a sixth bolt-on acquisition with the purchase of Leicester-based Thorpete Associates.

The deal will expand Kinetics’ gas installation and maintenance division in the East Midlands.

Chris Cheshire, CEO of Kinetics, said: “Thorpete is an important landmark in Kinetics’ growth strategy. We aim to retain the Thorpete brand whilst under the Kinetics umbrella and continue to develop and expand the quality service delivered by Kinetics.”

Kinetics is a provider of social housing and maintenance services and was created in 2006 by Sovereign through the joint acquisition and merger of Seaflame and Cameron. Since then it has added Hudson in March 2007, TA Horn in June 2007, Walmotts in October 2007, Lord Group in March 2008 and Sureway Gas in June 2008 to the Kinetics stable.