Kinetics Group completes sixth bolt-on acquisition

Sovereign Capital, the UK private equity Buy & Build specialist, today announces the acquisition of Thorpete Associates Limited (Thorpete) as the sixth bolt-on for the Kinetics Group, expanding Kinetics' gas installation and maintenance division in the East Midlands.

Sovereign completed the transaction in three weeks, having identified the firm as an ideal fit for Kinetics.

Founded in 1995 by the TREES Group, one of the largest social enterprises in the East Midlands, Leicester based Thorpete was launched to provide jobs for former British Gas engineers and young residents in deprived areas. 

Thorpete services over 10,000 properties on behalf of its clients, delivering safety inspections, boiler and appliance servicing and gas installations.  Their current client base includes local authorities, private landlords and housing associations.

Commenting on the transaction, Phil Hinson, Director, Sovereign Capital said: "We are delighted to have completed the acquisition of Thorpete, which fits well with Kinetics' current service offering.  The transaction consolidates Kinetics as a key player in Central England and further develops its customer base."

Chris Cheshire, CEO, Kinetics Group commented: "Thorpete is an important landmark in Kinetics' growth strategy.  We aim to retain the Thorpete brand whilst under the Kinetics umbrella and continue to develop and expand the quality service delivered by Kinetics."

Sovereign continues to assess the market for potential new bolt-on opportunities to expand Kinetics' reach and service offering.