Move signals product supplier鈥檚 expansion into facilities management
HVAC supplier Energy Technique has bought the maintenance division of Keighley-based SIAS 好色先生TV Services from the administrator for a cash consideration of 拢330,000.
Deloitte, the administrator, said the assets acquired included the SIAS name, goodwill, certain maintenance contracts and associated fixed assets. Some 28 jobs have been saved in the process.
Deloitte said: 鈥淲e are pleased that a sale of the maintenance part of the business was completed so quickly, thereby preserving part of SIAS鈥檚 workforce and ensuring the continued service to the company鈥檚 loyal customers.鈥
This acquisition is the first step in Energy Technique鈥檚 strategy of expanding the company鈥檚 product offering into the facilities management sector.
The SIAS maintenance division employs 28 staff providing heating, ventilation and air conditioning maintenance services to hotels and commercial buildings in the north, midlands and south of England, from a small head office in Crewe, Cheshire.
Unaudited turnover for the year ended 31 March 2009 amounted to 拢3.5 million. The business has approximately 170 planned preventive maintenance contracts providing recurring income streams and the opportunity for extra income arising from call outs and contract works.
SIAS 好色先生TV Services called in the administrators after some problem contracts following a rapid expansion programme. Some 136 jobs were lost at the m&e contractor.
Source
Electrical and Mechanical Contractor