Maintenance contractor Kinetics Group has bought 拢20m-turnover fabric maintenance company Lord Group for an estimated 拢7m.

Lord, which is based in Rochdale, is a key maintenance provider to the Greater Manchester social housing sector. Kinetics hopes the deal will push turnover to 拢110m this year.

Backed by private equity group Sovereign, Kinetic hopes to double the figure by 2010. Turnover was 拢32m in 2006.

Simon Hitchcock, director of Sovereign, said: 鈥淭his will enable Kinetics to tender for larger contracts in a region that is witnessing substantial local authority expenditure.鈥�

This acquisition is Sovereign鈥檚 fifth in 15 months.

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