Multimillion-pound fire services acquisition for PTSG

21 January 2019

Multimillion-pound fire services acquisition for PTSG

AIM-listed Premier Technical Services Group (PTSG) has acquired a fire services business which operates from ten locations across the UK for an initial £10.8m.

Trinity Fire and Security Systems specialises in the testing, maintenance and installation of fire and security systems. It has its headquarters in Exeter, with ten offices across the UK.

The company reported unaudited revenue of £36.8m for the year ended 30 June 2018, generating EBITDA of £1.5m. 

The initial consideration is a cash payment of £10.8m, with a further £5m also payable over two years, subject to Trinity achieving stretching and escalating milestone profitability targets.

Trinity currently has in excess of 2,000 customers servicing more than 29,000 sites and will more than double the size of PTSG's existing Fire Solutions division.

Paul Teasdale, chief executive of Castleford-based PTSG, said: "We are delighted to welcome Trinity, a well-established and respected business in the UK, as our latest addition to the Group.  This transformational acquisition will significantly extend PTSG's Fire Solutions division to offer a full suite of fire protection services. This now includes the design, source, supply, installation and servicing of the full range of best-in-class fire prevention solutions. Critically, the acquisition further increases the percentage of Group revenues underpinned by a clear regulatory and compliance requirement.

"We look forward to working with Trinity's senior management and their colleagues to grow our Fire Solutions division as it benefits from PTSG operating platform and nationwide coverage with a combined base of 20,000 corporate customers."

Trinity has offices in Exeter, Abingdon, Diseworth, Warwick, London, Heathrow, Newcastle, Warrington, Bournemouth and Bridgend.

PTSG was advised by Numis.