Sovereign Capital has bought social housing gas installation company TA Horn Holdings for £7.25 million (€10.8 million, $14.5 million), in the latest bolt-on acquisition for its maintenance provision platform Kinetics Group.
The deal will create the largest gas installation company for social housing in Greater London. TA Horn largely covers north London, so it will complement Kinetics’ existing operation Seaflame, a gas provider to central and south London local authorities.
The business has annual sales of £11 million, so it will take the combined revenues of the Kinetics group to £80 million.
Sovereign bought Seaflame and refurbishment business Camerons in 2006, and later merged the two companies with maintenance business group Hudson, which it bought in March 2007, to create full-service maintenance provider Kinetics.
Kinetics has government contracts with the UK Ministry of Defence, as well as various local governments.