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Aliter-backed Edwin James Holdings makes additional bolt-on acquistion as part of a strategy

Specialist investor Aliter maintains investment momentum following launch of its £92 million support services fund

Edwin James Holdings Limited (“EJH”), a provider of technical services to public and private sector clients, has today announced the bolt-on acquisition of Midlands-based Peterborough Electrical & Mechanical Engineering (“PEME”). PEME is an outsourced reliability maintenance services company that provides total managed solutions for electrical and mechanical plant and asset maintenance to large UK and European manufacturers. The value of the transaction has not been disclosed.

EJH, which is headquartered in Tannochside near Glasgow, was backed by Aliter Capital I LP (“Aliter”) in January 2017 and acts as the holding company for Aliter’s investments in the technical support services sector. In making this acquisition, EJH has further expanded its service offering and geographical footprint; and created a business with combined revenues of c.£150m and approximately 1000 staff.

This is the second acquisition that EJH has made since it was backed by Aliter (WT Parker Group, a family owned mechanical, electrical and process engineering business was acquired in April 2017) and it 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.

Last week, EJH also announced the appointment of new CEO Derek Smith who has held senior roles in a number of major engineering groups, most recently as Group CEO of Ramco.

The Aliter team has considerable experience of transforming regional businesses into successful national operators. Historic examples include Europa Support Services, where each of the Aliter partners played a significant role in growing the business organically and through acquisition to become one of the UK’s leading facilities management providers. Having increased revenues fivefold over a seven-year period, the business was successfully sold in 2013.

PEME was established in 1982 in Peterborough and is jointly owned and managed by three principal shareholders supported by two non-executive shareholders. Two of the five shareholders will retire when the acquisition is completed. Having undergone an MBO in 2014 without institutional backing, the business went on to become one of the UK’s only dedicated providers of outsourced plant and asset care solutions and maintenance.

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. PEME’s management team has over 72 years’ hands on experience in the business and we look forward to working with them as we take the next step in creating a truly national technical services operator.”

Billy Allan, Managing Partner of Aliter and Chairman of EJH, said: “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.”

He added: “Following the acquisition of WTP in April 2017, we have actively drawn on our extensive network and experience within the technical services sector to identify the most complementary additions to the EJH platform. This has in turn enabled us to source this investment on a proprietary basis without involvement in an auction process.”

Ashley Maile, Managing Director of PEME, said: “In Edwin James Holdings we have found the right partner with an impressive track record in delivering business growth. With our strong reputation and EJH’s in-depth industry knowledge, PEME can truly reach its full potential delivering best in class services to the UK market place. Following on from the business’ strong financial performance, the timing was right for us to look forwards and develop PEME as a major player in the industry and provide security for our employees.”

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