KBS Corporate advises on acquisition of East Lancashire Refrigeration Limited
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East Lancashire Refrigeration Limited is a heating, ventilation and air conditioning systems specialist based in Blackburn, Lancashire. The company offers a range of services covering all aspects covering surveying, design, installation and on-going maintenance.
KBS was instructed with the sale of East Lancashire Refrigeration Limited in order to facilitate the retirement plans of the majority shareholder. It became clear that an established trade buyer would be the best fit, as this would allow East Lancashire Refrigeration Limited to benefit from a supportive platform which would enable further growth.
Following a thorough research process targeting predominately trade buyers and Private Equity Firms; East Lancashire Refrigeration Limited 15 interested parties came forward resulting in 2 offers. The greater levels of interest were generated by trade buyers which better suited our clients’ wishes.
Ultimately East Lancashire Refrigeration Limited was acquired by Johnson Controls Building Efficiency UK Limited which is part od Johnson Controls International plc and produces revenue in excess of £30 billion worldwide. This proved very beneficial to East Lancashire Refrigeration Limited as the acquisition best fit our clients’ needs.
The deal was overseen by Tom Eatough, Associate Corporate Director, and commented,
“Johnson Controls are well suited to take the company forward and I am sure the acquisition will be a great success. I very much enjoyed working on this transaction and the sellers/buyers alike were great to deal with. I am really pleased with the result and wish both parties all the best.”