Edwin James Holdings, the technical services provider backed by private equity firm Aliter Capital, has acquired Peterborough Electrical & Mechanical Engineering.
Midlands-based Peterborough Electrical & Mechanical Engineering, known as PEME, was established in 1982 and is an outsourced reliability maintenance services company that provides solutions for electrical and mechanical plant and asset maintenance to large UK and European manufacturers.
Edwin James Holdings (EJH), which is headquartered in Tannochside near Glasgow, was backed by Aliter Capital in January 2017. The bolt-on acquisition of PEME expands its service offering and geographical footprint and creates a business with combined revenues of around £150 million and approximately 1000 staff.
This is the second acquisition that the firm has made since it was backed by Aliter, following its acquisition of WT Parker Group, a mechanical, electrical and process engineering business in April, and forms part of a wider strategy to create a specialist national technical services business.
EJH now comprises five key operating brands: PEME, WT Parker Group, Musk, Ingen Technical Services and Korrie.
EJH also announced the appointment last week of new CEO, Derek Smith, who has held senior roles in a number of major engineering groups, most recently as Group CEO of Ramco.
Derek Smith, CEO of Edwin James Holdings, said: “We are delighted to be announcing the acquisition of PEME, a highly-regarded business that has successfully developed a niche in the developing outsourced production management services market. It is a great fit for EJH. In addition to enhancing the reputation of the wider Group, this acquisition will enable us to further develop our process services offering and capabilities, whilst also embedding best in class systems, processes and infrastructure to support scalability and professionalise the business.”
Billy Allan, Managing Partner of Aliter and Chairman of EJH, added: “The investment strategy behind Edwin James Holdings is to transform a successful regional business into a leading national technical services operator. The acquisition of PEME is the latest step in our acquisitive growth plan aimed at developing the Company’s service lines and geographic presence. Now comprising five operating brands and generating combined revenues of nearly £150 million, EJH is able to offer an impressive range of services including mechanical, electrical, energy and process engineering capabilities that are delivered by a highly skilled direct workforce throughout the UK.”
Aliter Capital was formed in 2016 to invest in small and mid-sized businesses in the UK support services sector.