Lancashire firm’s second acquisition lays foundations for expanded group
A Lancashire firm’s seven-figure takeover deal has laid the foundations of the LCM Environmental Group of businesses.
Padiham-based LCM Environmental has acquired PIS (Ireland), located in Belfast, which will offer a gateway to a wider European marketplace for the fuel quality and tank infrastructure business.
It will also enable the Lancashire firm to further increase its focus on forecourt projects and serve other public and private organisations that have previously been outside its scope.
LCM Environmental has enjoyed unprecedented growth in the past two years – turnover has doubled, the service offerings have significantly increased, and staff numbers have grown accordingly.
Following the acquisition of South Midland Installations in October, the company has added PIS (Ireland), for an undisclosed sum, to provide a base in a new location and increase the LCM Groups’ offering throughout both the UK and Ireland.
Similarly, PIS (Ireland) will benefit from LCM’s experience in tank management, as well as fuel risk mitigation and other types of maintenance services.
Richard Wallace, CEO of LCM Environmental, said: “It has been a long term goal of LCM Environmental to acquire an Irish base and expand overseas.
“We are happy to announce that this is now a reality, and we look forward to integrating PIS (Ireland) capabilities within the company. The start of the LCM Group marks a new beginning for us, as a business – we are more determined than ever to keep growing within the industry and reach new heights in the coming months.”
Colin Doyle, general manager of PIS (Ireland), said: “We are thrilled to become a part of the LCM Group.
“With our combined in-house capabilities, extensive fleets and trained experts, LCM and PIS complement each other on all levels. Over the years that followed PIS Ireland’s foundation in 2012, the company has established a prominent reputation within its sector and has formed strong relationships with a multitude of clients across the UK.
“As such, it is now in an excellent position from which to achieve considerable further expansion alongside LCM.”
With more than 60 years of combined experience, LCM says the two companies can now benefit from each other’s established customer bases and cover a greater footprint across the UK and Ireland to help drive further efficiencies.
PIS (Ireland) will continue to trade under its own name.
The acquisition was facilitated by Mills Selig Solicitors, Clarion Solicitors, and O’Reilly Stewart Solicitors. Tax advice was provided by BHP Chartered Accountants and funding by Barclays Bank.