Roofing firm completes its first acquisition in Mercia-backed seven-figure deal
A Warrington-based roofing and cladding contractor has completed the acquisition of a Stockport company in a seven-figure deal.
Mercia backed Complete Roofing Solution’s takeover of Allied Roofing with an SME loan.
The deal is the first by CRS and brings additional skills to the business, helping it to build its presence in the social housing sector.
CRS, which employs more than 100 staff, operates on a national basis for clients including Aldi, AstraZeneca, Warner Leisure, the Restaurant Group and the Ministry of Defence.
Projects range from major supermarkets, leisure and industrial sites to the refurbishment of Darwen Town Hall, Liverpool’s historic Calderstones mansion and the RAF barracks at Rhosneigr, Anglesey.
Established in 2010 by father and son, Stuart and Jamie Lennon, the company is now led by CEO Mike Wharton, a former fund manager who has held senior positions in the roofing industry. Since his appointment in 2019, revenue has more than doubled to almost £20m and the company has continued to build its blue chip client base.
Allied Roofing was founded in 1989 by Mark Threlfall, who was joined 10 years ago by his business partner, Neil Higson. The company, which specialises in pitched roofing, now employs almost 30 staff and works primarily on public sector and social housing projects across the North. The company will continue to operate under the Allied Roofing brand.
Mike Wharton said: “This is an exciting development for CRS. Allied Roofing’s skills and clients are complementary to ours and the acquisition provides many avenues for growth. We look forward to working with Mark, Neil and the team to further develop the company.
“At the same time we will continue to pursue opportunities to build the CRS business. As the roofing industry is very fragmented, we see potential to make strategic acquisitions alongside organic growth.”
Mike Rogers, of the Mercia SME Loans team, said: “Complete Roofing Systems has established a strong track record since its inception and in the past three years Mike and his team have put measures in place to strengthen the business and prepare it for further expansion.
“As one of the few funders currently providing debt finance for acquisitions at this level, we are pleased to be able to support the management team as they pursue their growth plans.”
Ben Day of Cowgills provided corporate finance advice to CRS while a team led by partner Louise Mahon at MacRoberts provided legal advice to the company.