WT Parker Group acquired by Edwin James Holdings
WT PARKER GROUP ANNOUNCES ITS SALE TO EDWIN JAMES HOLDINGS, ESTABLISHING NEW FORCE IN TECHNICAL ENGINEERING AND PROCESSING SECTOR
WT Parker Group, the leading provider of mechanical, electrical and process engineering services, has announced that it is being acquired by the built environment specialists Edwin James Holdings Ltd. The development, which comes with the approval of the WT Parker board, will see the 95-year-old company becoming part of one of the largest new groups in the sector, with a combined turnover in excess of £100 million.
The sale sees Edwin James Holdings acquiring 100% of the share capital of WT Parker Group and its incorporated trading companies. WT Parker Ltd and its trading companies’ T Musk Engineering Ltd, Pandelco and Seymour & Castle will continue to trade under their own names. Details of the purchase price are not being disclosed.
“This move opens up an exciting new chapter in our development as a company,” says Sean Smyth, chief executive of WT Parker Group. “The Edwin James team’s track record in business growth is second to none, and their expertise will be a huge asset as we look to secure and build the future of WT Parker Group. It’s business as usual for us, and for our dedicated staff and suppliers. But we now go forward with fresh investment and with a wealth of new experience on the board.”
The Edwin James team includes the highly successful Scottish entrepreneur Billy Allan, who piloted the transformation of electrical engineering company EJ Stiell into a leading FM business; former Stiell colleagues Greig Brown and Andy Galloway, who helped Allan turn services group Europa into the largest independent integrated FM company in the UK.
Based in Glasgow, the Edwin James Holdings portfolio includes the M&E company, Korrie Mechanical and Plumbing, and fire and life safety company Life Safety Services. As well as opening up new markets across England and Scotland, the acquisition of WT Parker will bring greater buying power to the combined group, and opportunities for new investment.
“WT Parker is a highly respected company with a rich history,” says Billy Allan, Chairman of Edwin James Holdings Ltd. “Their culture and ethos have enabled them to create an enviable client base and an industry-wide reputation for quality, and we want to build on that. As a company, we have a vision for creating a new leading national provider of technical services to the built environment and WT Parker Group is an essential part of that strategy.”