The P&M Group Limited, which includes Gloucester composite panel experts ISD Solutions, has acquired the business of coldstore installation specialist Tysoe Holdings.
Through its subsidiary S Tysoe Installations (STI), the Leicester company, has provided subcontract labour to ISD Solutions for over 25 years.
As ISD Solutions continues to grow, with ever more challenging projects from a design and technical perspective, its board felt that being able to source direct labour from in-house would managed a key area of risk.
The acquisition will also give ISD Solutions’ clients, who range from large food retailers to major construction firms, a reassurance that it can offer consistent quality.
Meanwhile Simon Tysoe, who started STI in 1982, felt a sale to The P&M Group would ensure the sustainability of the business.
“I have worked continuously with ISD Solutions for 25 of my 39 years of trading,” he said, “and our businesses have grown in tandem.
“After all this time I have built not only a business relationship with the company but also a personal one with the directors and staff, as have many of my own staff.
“I will be staying on with STI and look forward to helping harness the opportunities and talent of both companies.”
The two companies began discussions almost two years ago but uncertainty over first Brexit and then the pandemic made ISD bide its time to ensure the decision was the right one.
Andy Moon, Chairman of The P&M Group, said: “STI is a successful and well-run business in its own right with a strong brand identity.
“As such there are no plans for any restructuring, other than making sure each party benefits from the strength, knowledge and experience of the other.
“We are really excited about this major acquisition. Our businesses know each other well and we have a mutual high level or respect for our achievements and business ethos.
“For us, having a labour company as part of the group will help us maintain consistent high standards, particularly regarding quality and health and safety.
“As well as supplying specialist labour, STI is involved in areas which complement our existing business, including national service and maintenance coverage for the retail, commercial and industrial coldstore markets and expertise in specialist fire protection.”
The P&M Group was advised by the corporate team of Cheltenham solicitors BPE, led by corporate partner Adam Kean with assistance from Anghared Doyle and Rupert Parker.
Mr Kean said: “It was great to work with Andy and the team again, and to assist with the growth of the P&M Group. Our aim is to always work alongside our clients as trusted advisors, and we look forward to continuing to work with the P&M Group on future transactions.”