Building Services Group acquires air conditioning specialist

Stockport building services group Thermotech have expanded the business and bought Cheadle Hulme air conditioning specialist Oakwood.

Thermotech operates nationally providing service & maintenance and system design & installation for clients including Betta Living, Boots, John Lewis Partnership, M&S, and Sofology and a large portfolio of commercial offices and shopping centres.

Following the acquisition of Oakwood, the group’s turnover is expected to soon reach £20m.

Oakwood has a strong reputation for quality services built over its 40 year history since it was started by MD, Jon Holmes. Jon, and Sales and Technical Director, Charles Hart.

Both Jon Hulmes and Charles Hart will remain in their current roles to manage the business.

Thermotech’s building services chief executive Bill Squires commented: “Oakwood’s operations add significant capabilities and scale to our existing fire protection and mechanical services businesses.

“Our combined turnover is now heading towards £20m.

“Jon and Charles have built strong, long-term relationships with impressive clients and we look forward to the benefit they will bring to our combined growth.”

The deal has been financed with lending facilities from Allied Irish Bank (GB).

Oakwood MD Jon Holmes added: “We are excited to be working with the team at Thermotech: “We are pleased to join an organisation with similar culture and values, that shares our passion for service excellence.“

Thermotech was advised by Gateley, while Freeman Fisher advised Oakwood on the transaction.