Rok solid - £16.5m purchase of Avonside
Rok plc, the building and maintenance firm has bought Avonside Services Group for £16.5m.
Avonside offers plumbing, heating and electrical services to the construction industry and was sold by its directors who will be remaining with Avonside as it becomes part of Rok.
The move is part of Rok's plans to expand its maintenance and labour force.
Avonside had a turnover of £42m last year and was formed in 2003 following a management buy-out. It employs around 450 people, mainly qualified trades people, working from four offices across the North of England and Scotland.
Rok, which has 54 offices across the UK and employs 4,400 people, has made it known that it is keen to increase its numbers of directly employed tradespeople.
Chief executive of Rok, Garvis Snook, said: 'Avonside will expand our own labour force where our preference for direct delivery of services is key to customer satisfaction and margin growth.
'The acquisition also provides a strong platform from which to extend our plumbing, heating and electrical services across the rest of the UK in our pursuit of becoming the nation's local builder,' he added
Steve Sayers, group mangaing director of Avonside, said: 'We are delighted to be joining Rok. This provides us with the resources to further expand our successful business model enabling us to service more of our customers' needs'.
1 October 2007