Earnings climb at investment house CorpAcq

NORTH West private investment group CorpAcq says it is on track for revenues of £100m this year as the improving economy boosts trade across its portfolio.

The Altrincham-based firm, whose backers include BetFred owner Fred Done, expects to achieve record revenues this calendar year, up from £83.3m in 2013.

Underlying pre-tax earnings (EBITDA) are forecast to top £20m, compared with £11.4m last time.

In a statement the business said its figures had been buoyed by strong organic growth and several acquisitions. Last September it bought Chorley-headquartered Adlington Welding Supplies and this summer acquired Stoke-based Olympus Engineering.

Overall group sales rose 29% in the eight months to the end of August compared with the same period of 2013. Profits in the period were 68% ahead of the first eight months of 2013. Staff numbers across the companies owned by CorpAcq now total more than 800, up from 664 at the end of 2013.

CorpAcq’s portfolio comprises 10 companies across the North West, Yorkshire and the Midlands, whose activities span building services, manufacturing, precision engineering and plant, generator and forklift truck hire.

Simon Orange, founder and chairman, said: “The improving economy has led to a return of confidence and activity in our key markets, and we are benefiting from a diverse customer base, product range and service offering across the CorpAcq portfolio.

“We are confident of sustaining our strong growth, and we continue to target further acquisitions to strengthen our market position in the building services, plant and engineering industries while also seeking to broaden our portfolio across various other sectors.”

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