Maintenance contractor Kinetics Group has bought £20m-turnover fabric maintenance company Lord Group for an estimated £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 £110m this year.
Backed by private equity group Sovereign, Kinetic hopes to double the figure by 2010. Turnover was £32m in 2006.
Simon Hitchcock, director of Sovereign, said: “This will enable Kinetics to tender for larger contracts in a region that is witnessing substantial local authority expenditure.”
This acquisition is Sovereign’s fifth in 15 months.