Acquisition of Pre-Heat Ltd hailed as a ‘milestone’
20 February 2007
ACQUISITION OF PRE-HEAT LTD HAILED AS A 'MILESTONE'
A DORSET company has doubled in size after the acquisition of one of the region's best-known gas installation and maintenance firms.
Poole-based Pre-Heat Ltd has joined forces with AquaCare, the property maintenance arm of Bournemouth & West Hampshire Water (BWHW), following its purchase for an undisclosed sum.
Together the enlarged business, which will continue to trade under separate names, will have an annual turnover in excess of £9 million and employ 120 staff. The majority are directly employed gas engineers and plumbers.
Tony Cooke, BWHW's Managing Director, described Pre-Heat as "an excellent fit with AquaCare."
He added: "This acquisition represents a milestone in the ambitious growth plan we have for our enterprise activities outside but complementary to BWHW's regulated water supply activities."
Pre-Heat Ltd was founded in 1996 by Andy King and Chris Coe and supplies gas installation and maintenance services to housing associations, local authorities and private customers across the South of England.
Both Mr King and Mr Coe will remain with the business.
AquaCare specialises in plumbing, heating, drainage, bathroom installation and water hygiene services and was founded in 1998.
Simon Booth, AquaCare's Managing Director, said the purchase of Pre-Heat was part of the 'Go for Growth' strategy being implemented.
"Although the business has doubled in size we will continue to provide a personal and local service to meet the gas heating, plumbing and drainage needs of our domestic and commercial customers," he pledged.
Mr King said: "By joining forces with AquaCare, and becoming part of the BWHW family, we are opening up new and exciting opportunities for growth as we embark on a new phase in our development."
ENDS
Picture caption: Sealing the deal: Pre-Heat directors Chris Coe (left) and Andy King (right) with Simon Booth, Aqua Care's Managing Director.
Editor's Note: AquaCare is an autonomous and self financing division of BWHW. It provides both reactive and planned maintenance services through its home cover plans.
In its core regulated water supply business, BWHW provides water to about half a million people in the Bournemouth, Christchurch and surrounding areas. The company supplies approximately 180,000 households and 15,000 businesses through a system of eight major treatment works and a network of 2,750 kilometres of pipes. It is investing a total of £50 million in capital projects between 2005 and 2010.
For more information please contact: Tony Cooke, Managing Director, Bournemouth & West Hampshire Water, on 01202 591111 or Andrew Diprose, PR Account Director, Deep South Media, on 01202 534487.