The Total Property Care Group (TPC) has furthered its expansion plans by acquiring the business and assets of well known Castleford based building and decorating contractors Harry Robshaw & Sons for an undisclosed sum. The deal which sees the two business (who have worked together in the past but under separate ownership) now team up together to consolidate their presence in the North, South and West Yorkshire markets and provide a more comprehensive property maintenance, building, and decorating contracting service to its clients.
The acquisition will boost TPC’s turnover by 100% to £2M and will provide TPC with access to some key clients of Harry Robshaw. The Vendor (Ron Sykes) will stay on with TPC under an earn out arrangement and be responsible for running and managing the acquired business for a short while following completion.
Tadcaster based TPC is a leading property maintenance and development business involved in all aspects of property development, renovation, and maintenance and also provides commercial plumbing and heating, cleaning, and electrical services to its corporate clients.
Chris Wright (managing director, owner, and founder of TPC) commented “This is an excellent acquisition for us. I have known and worked with the Vendor for many years and we have a superb relationship both personally and professionally on the business side of things. I am confident we can make a real success with the combined businesses and the steps I have taken should now pave the way for further strategic acquisitions going forward”.
Harrogate based commercial law firm Davidson Webber LLP acted for TPC on the acquisition and Green Williamson Solicitors in Wakefield acted for the Vendor Ron Sykes. Neil Large corporate partner at Davidson Webber LLP said “this was an interesting deal it took a while to a agree the structure and gets heads signed, but once signed the deal was then negotiated and completed within a further 7 days. In addition to the business purchase there were complicated property option contracts to draft and negotiate”.
“Chris Wright is a talented ambitious individual who knows where he wants to be and where he wants to take his business. He is keen to drive his company forward with further expansion plans and I am looking forward to working him on other acquisition opportunities which he has in the pipeline” Neil added.
