Specialist services provider PTSG has bought Guardian, a market leading electrical testing and compliance company, for an initial consideration of £12m.
To help fund the deal and to support future acquisitions, Castleford-based PTSG has also announced a placing to raise £20m.
PTSG said the acquisition will enhance its strong position in the electrical safety services market and will expand the group’s extensive national coverage in the South West.
The firm said Guardian’s advanced proprietary software, TraQ-it, is unique in the market and will be combined with PTSG’s own in-house platform, Clarity, to produce a compelling technology compliance solution for customers.
Paul Teasdale, CEO of PTSG, said: “Today’s announcement marks a step-change in PTSG’s growth story as we substantially enhance our leading position in Electrical Services and demonstrate our intent to expand further our Fire Solutions business to meet the unprecedented customer demand.
“Guardian is a highly complementary and attractive acquisition. It has an exceptional growth track record, management team and large blue-chip customer base. Critically it fits our clear acquisition model by presenting significant opportunities for cross selling additional PTSG services as well margin improvement whilst supporting our long-term goal of sector dominance.“
He said the transaction reflects the group’s determination to grow revenues from compliance related services that now stand at record levels.
"Furthermore, we believe Guardian’s proprietary software is unique in the market and, when combined with our own in-house platform, Clarity, will provide our customers with a highly advanced and compelling compliance solution," he added.