Power Electrics (Bristol) Ltd is expanding its business and brand with the acquisition of Power Electrics Ltd (trading as PE Generators). Power Electrics (Bristol) Ltd previously held a 15% shareholding in PE Generators and completed the acquisition on the 1st of November 2019.
As a leading UK generator hire specialist, the acquisition sees the group grow from four depot locations to six, spreading from Southampton in the South to Glasgow in the North. The investment will increase the company’s capacity to deliver temporary power solutions improving its ability to reach a larger number of customers within the United Kingdom.
The purchase is the first of its kind for Power Electrics and will see an increase of over 30% of the total number of generators available to hire. Along with the increase in coverage and equipment, the new Power Electrics group will increase specialist and skilled staff, with now over 300 employees across the business.
Power Electrics Director John Pullin commented, “This is a major opportunity for us. The increased capacity and resource extends our coverage and reach, enabling us to provide the highest level of customer service on a national basis.”
Andy Pullin, also Director of Power Electrics added, “This is such a great fit for us. Both businesses are generator specialists so we already have a great deal in common with Power Electrics Ltd. This move will enhance our brand, continue our growth and improve the service to our customers.”
To assist with the acquisition process, Power Electrics worked in collaboration with KPMG Corporate Finance, Burges Salmon & Haines Watts Accountants to complete the transaction along with HSBC provided the funding package.
Tim Spooner, Corporate Finance Director at KPMG Bristol said “We’re delighted that the team at Power Electrics chose KPMG to support them with this complex transaction, a simultaneous acquisition and share buyback. The South West continues to nurture highly successful businesses and Power Electrics is yet another example of a fantastic, family run business which is going from strength to strength. The deal gives Power Electrics national coverage in the generator hire sector and positions the company perfectly to benefit from the expected future increase in demand.”
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