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Four seasons acquires JCW Air Conditioning

The Four Seasons Group, the nationwide air conditioning, ventilation and building services specialist, has acquired JCW Air Conditioning.
This latest development brings group revenue in excess of £25m, making it one of the largest air conditioning-led building services organisations in the UK.

JCW, a successful heating, ventilation and air conditioning business operating from the south west across to Cambridgeshire, joins the group portfolio as the latest step in a buy-and-build strategy, with a view to becoming the leading UK specialist in its field.

The acquisition accelerates the planned strategy of building a broader client profile across a wider range of market sectors.

'The acquisition represents a significant step towards the group becoming the UK's leading air-conditioning-led building services group,' said Stuart Lawrie, chief executive officer of the Four Seasons Group. 'It increases our scope of service, geographical coverage and ability to serve clients on both the high street and in the broader commercial sector.'

David Jones of JCW commented that the synergies between the two companies, geographically, technically and commercially, were key factors in the decision to join Four Seasons. 'This is a classic case of the whole being greater than the sum of the parts'.

Barclays Ventures made an initial investment in May 2007 and have supported the Four Seasons Group with a further equity injection to fund the acquisition.

'JCW is a great acquisition for the group and brings with it broader management capability and depth,' said Dion Hirst, investment director at Barclays Ventures.

'JCW is the third acquisition in less than three years and demonstrates the buy and build strategy and ambition of management and the commitment from Barclays Ventures from a funding point of view.'

The Four Seasons Group employs 200 staff across the UK and boasts an impressive client list including WH Smith, Ladbrokes, Nationwide Building Society, Waterstones, Costa Coffee, University of Bristol, BBC Wales, Admiral Insurance, MOD, Boots, and Carphone Warehouse to name but a few.
12 February 2010

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