T Clarke buys two M&E contractors for £3.4m

T. Clarke plc, the electrical engineering and contracting company, has splashed out £3.4m to buy two privately owned businesses.

The two, AG Aylward Electrical & Mechanical Limited and AG Aylward EMS (Maintenance and Minor Works) Limited are both electrical and mechanical engineering contractors based in Kimbolton, Cambridgeshire.

Together, they employ 75 staff and for the year ended 30 September 2002, they reported a turnover of just over £6m, profits before tax of £446,000 and net assets of nearly £1.1m.

The two firms work for a wide range of public and private sector customers throughout East Anglia, including many of the local authorities, education authorities and housing associations.

Pat Stanborough, chief executive, said: " Our strategy is to grow the scale of the group organically and by acquiring high quality regional
businesses that have a good geographical & business fit with our existing operations.

"We have had a successful track record of identifying suitable acquisition opportunities that have strengthened both our geographical presence and the diversity of our workload.

"We are confident that this business will fit well with our existing operations and will benefit enormously from being part of the larger T.Clarke Group," he said.