Building maintenance contractor hits £170m revenue with latest deal
Wed, 10 Apr 2024 | BUSINESS SALE
Cardo Group, a building maintenance contractor, has completed the acquisition of a fellow Cardiff-based firm. The group has acquired A & N Lewis Limited, a specialist refurbishment and decorating contractor.
The deal is Cardo Group’s fourth acquisition in less than a year and takes the group’s annual turnover to £170 million in 2024/25. The group has complemented its acquisitive activity with steady organic growth.
A & N Lewis joins the group’s recent acquisitions, LCB Group, Cardo (South) - previously known as Osborne Property Services – and Jefferies Contractors. Cardo is using M&A activity as part of its aim of building one of the UK’s largest building maintenance companies.
A & N Lewis was founded in Cardiff in 1987 and specialises in general building works, specialist painting and decorating and retrofit work for corporate properties.
Cardo Group Chief Executive Liam Bevan commented: "It was obvious when I first met the team at A & N Lewis that they'd make a great fit for us as we continue to extend Cardo’s service offering across public buildings as well as social housing, with an increasing focus on retrofit work.”
"I am delighted to welcome everyone from A&N to the Cardo Group. I know the business will continue to thrive with well-respected and very experienced directors, Andy Gentile, Andy Gooch and Garry White, remaining at the helm."
A & N Lewis’ Andy Gentile, who will take on the role of managing director following the acquisition, added: "It's been 37 years since the company was founded and my fellow directors and I are all excited to take this next step in our history as part of the growing Cardo Group. I am grateful to everyone at A&N for the work they’ve done building up our reputation for doing great work and I know they will all do well in Cardo."
M&A remains a key strategic priority for many UK business owners during 2024
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