Roofing agency completes its first acquisition in Mercia-backed seven-figure deal
A Warrington-based roofing and cladding contractor has finished the purchase of a Stockport corporate in a seven-figure deal.
Mercia sponsored Whole Roofing Answer’s takeover of Allied Roofing with an SME mortgage.
The deal is the primary by means of CRS and brings further talents to the trade, serving to it to construct its presence within the social housing sector.
CRS, which employs greater than 100 personnel, operates on a countrywide foundation for shoppers together with Aldi, AstraZeneca, Warner Recreational, the Eating place Crew and the Ministry of Defence.
Tasks vary from main supermarkets, recreational and business websites to the refurbishment of Darwen The city Corridor, Liverpool’s historical Calderstones mansion and the RAF barracks at Rhosneigr, Anglesey.
Established in 2010 by means of father and son, Stuart and Jamie Lennon, the corporate is now led by means of CEO Mike Wharton, a former fund supervisor who has held senior positions within the roofing trade. Since his appointment in 2019, income has greater than doubled to nearly £20m and the corporate has persisted to construct its blue chip consumer base.
Allied Roofing was once based in 1989 by means of Mark Threlfall, who was once joined 10 years in the past by means of his trade spouse, Neil Higson. The corporate, which specialises in pitched roofing, now employs nearly 30 personnel and works totally on public sector and social housing initiatives around the North. The corporate will proceed to function underneath the Allied Roofing emblem.
Mike Wharton stated: “That is a thrilling construction for CRS. Allied Roofing’s talents and shoppers are complementary to ours and the purchase supplies many avenues for enlargement. We sit up for operating with Mark, Neil and the staff to additional increase the corporate.
“On the similar time we can proceed to pursue alternatives to construct the CRS trade. Because the roofing trade may be very fragmented, we see possible to make strategic acquisitions along natural enlargement.”
Mike Rogers, of the Mercia SME Loans staff, stated: “Whole Roofing Methods has established a powerful observe document since its inception and up to now 3 years Mike and his staff have put measures in position to make stronger the trade and get ready it for additional enlargement.
“As probably the most few funders lately offering debt finance for acquisitions at this stage, we’re happy so as to enhance the control staff as they pursue their enlargement plans.”
Ben Day of Cowgills supplied company finance recommendation to CRS whilst a staff led by means of spouse Louise Mahon at MacRoberts supplied felony recommendation to the corporate.