KBS Corporate Finance Advises on Sale of UK Dry Risers Limited
Premier Technical Services Group plc (PTSG) has completed the purchase of UK Dry Risers Ltd and UK Dry Risers Maintenance Ltd for a total consideration of £5.6m.
Based in Greater Manchester, UK Dry Risers offers specialist installation, maintenance and testing services of dry and wet riser systems throughout the whole of mainland Britain, with past projects including the London Olympic Stadium and the BBC News Studio.
No less than 28 separate parties expressed an interest in acquiring UK Dry Risers, comprising several MBI candidates, PE/VC acquirers and numerous companies within the fire protection industry. Ultimately, a deal with PTSG proved to be the preferred choice for our clients, with the final deal value worth up to 8x multiple of profits.
PTSG is a leading provider of façade access and fall arrest equipment services, lightning protection and electrical testing, high-level cleaning and training solutions. The company previously acquired electrical testing specialist, R. Langston Jones Ltd, through KBS Corporate.
Paul Teasdale, CEO of PTSG, commented: “We are delighted to welcome UK Dry Risers Ltd and UK Dry Risers Maintenance Ltd as our latest additions to the Group; these acquisitions offer a new service line to complement our existing extensive offering as the UK’s largest niche specialist building services provider.”
KBS Corporate Finance Director, Andrew Melbourne, lead the deal on behalf of UK Dry Risers Ltd and UK Dry Risers Maintenance Ltd.