The BSS Group (BSS), a leading distributor to specialist trades, has acquired Direct Heating Spares (DHS) from the Gough family for £5.7m.
DHS is a wholesaler and distributor of spare parts to the heating industry. For the 12 months ended March 31 2009, revenue was £10.5m.
'DHS is a high quality business and significantly enhances our customer proposition in the substantial and growing parts market,' said BSS Group chief executive Gavin Slark.
He added: 'It is anticipated the acquisition will be earnings enhancing in the financial year just starting.'
Cost savings plans were accelerated during the final quarter of the financial year.
The group says its financial position remains strong and it expects its debt at year end March 31 2009 to be £86M, down from £104m at the March 2008 year end.