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(Photography by Ildar Sagdejev). (photo: Ildar Sagdejev)
(Photography by Ildar Sagdejev).
07.07.2016, 16:44

Thermotech Continues Expansion with Oakwood Acquisition

Company News, Heating, Ventilating & Air Conditioning (HVAC)
Rapidly growing building services group, Thermotech, has acquired air conditioning specialist, Oakwood, to bring together two of the strongest names in the sector.

Rapidly growing building services group, Thermotech, has acquired air conditioning specialist, Oakwood, to bring together two of the strongest names in the sector.  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, will both remain in their existing roles to manage the business, which has offices in both Cheshire and London. 

Bill Squires, Chief Executive, of Thermotech commented: “We are delighted to welcome the whole Oakwood team to Thermotech.  Their 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”.

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.

Jon Holmes, MD, of Oakwood, said: “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.”

The acquisition has been financed with lending facilities from Allied Irish Bank (GB), Mike Rogers, Senior Relationship Manager at AIB (GB) said: “We are delighted to have been able to support the Thermotech team in growing their business by providing the funding for the acquisition.  AIB (GB) is committed to helping business owners achieve their goals and we look forward to working with the team as it continues on its growth journey.” 

Thermotech are advised by Gateley Plc, Freeman Fisher advised Oakwood on the transaction.

 

About Oakwood

Oakwood is an air conditioning specialist operating nationally, from offices in Cheshire and London.

Visit www.oakwoodair.co.uk for additional information.

 

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