Building group purchase of M&E contractor widens services portfolio
T. Clarke, the £177m turnover building services group, has acquired mechanical services & public health contractor DG Robson Mechanical Services (DGR) for £6.15m.
For the year ended 31 March 2010, DGR reported a £7.7m turnover, up from £5.9m in 2009 and a pre-tax profit of £1.3m, up from £0.8m at 31 March 2009.
After integration costs the acquisition is not expected to boost earnings until 2011.
Based in Brentwood, Essex and focusing on London and the South-east, DGR has clients and experience in sectors such as education, transport, banking, residential and commercial developments.
Recent and current projects include Stansted Airport Extension, Associated Press, Kelmscott School, North Middlesex Hospital, Royal London Hospital, Rolls Building. In 2009 it was awarded the multi-service pipe work installation for the Shard development at London Bridge.
This acquisition will boost the services T Clarke can offer clients with a new, dedicated M&E division.
The current owner and managing director of DGR, Danny Robson, will remain with the business for a minimum of three years following the acquisition along with executive directors Clive Carr, Richard Exell and Andy Sofroniou.
Mark Lawrence, chief executive of T.Clarke said: “We believe that with DGR being part of the group there is an excellent opportunity to improve our service offering and to build upon the scale and number of projects that DGR undertakes. In due course we expect the additional services offered by DGR to diversify and enhance the group’s earnings profile.”