PTSG buys two Sheffield businesses as acquisitive streak continues

PTSG’s acquisitive streak has continued with the purchase of two Sheffield businesses as it maintains its momentum from its stock market float earlier this year.
It has bought five businesses in two months as it seeks to grow its geographic footprint and increase market share in areas where it already works.
Its latest deals are the £1m purchase of Access Contracting, which specialises in access equipment and fall arrest systems, and the £300,000 acquisition of Lightning Protection Testing, which maintains lightning protection and earthing systems.
Paul Teasdale, chief executive of PTSG, said: “Both businesses are well established and respected in the UK and their addition to the group will further increase our market share in their respective specialisms.”
Castleford-based PTSG floated in February and has increased its market value by more than 80%, and is now valued at £82m.
Between them, the two businesses will add £1.4m of annual revenue, which last year generated pre-tax profits of £0.4m. A large percentage of both businesses’ work is recurring compliance testing and maintenance work, which PTSG said “very much complements and fits” with its existing model.
Access Contracting will be integrated within PTSG’s Access and Safety Division and LPT into PTSG’s Electrical Services Division. Nick Hayes, a joint-vendor of both Access and LPT, will remain with the group.

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