Manchester firm Brooke Edgeley to be acquired by Yorkshire’s PTSG for £20m

Lightning protection and steeplejack company Brooke Edgeley (Industrial Chimneys) Ltd (BEST) is set to be acquired by Yorkshire-headquartered facilities management business Premier Technical Services Group plc (PTSG) in an eight-figure deal.

PTSG this morning (July 4) announced plans to take over Manchester-based BEST for a day-one consideration of £14m.

Under the transaction, a further £6m from PTSG would be payable in installments during the next three years.

The Castleford firm intends to fund the acquisition and its associated costs with a cash placing to raise £15m.

According to PTSG the deal, which it expects to be immediately earnings enhancing and “materially” enhancing within 12 months, will substantially enhance its position within the lightning protection market.

The acquisition will also increase PTSG’s geographical reach, as BEST operates with a strong presence in the West of the UK and Scotland.

PTSG chief exec Paul Teasdale said: “We are very pleased to welcome BEST, a long established and respected lightning protection and steeplejack business with a significant national presence, to the PTSG group of companies.

“The highly complementary acquisition provides us with significantly increased geographic coverage, scale in installation activities and additional capabilities with an attractive testing and inspection base, all of which will enhance our market leading offering.”

He added: “We look forward to working with all the vendors of BEST who will remain in the business following the acquisition.”

PTSG also looked to the North West in July last year with its acquisition of UK Dry Risers Limited and UK Dry Risers Maintenance Limited.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →