T Clarke buys Waldon for £1.7m

T Clarke has bought Waldon Electrical Contractors (WEC) for £1.7m.

WEC is an electrical contractor with 80 employees based in St Austell, Cornwall. In the year to January 2005, it had a turnover of £4m, a pre-tax profit of £113,000 and net assets of £371,000.

Clarke chief executive Pat Stanborough said: "WEC is an excellent business, with a first class reputation in its local markets of the South West. Developing our regional coverage and broadening our customer base are key parts of our strategy. Waldon fits our criteria perfectly."

Furthermore, at yesterday's AGM he noted the "sharp upturn in the London commercial property market", resulting in Clarke securing an £11m contract in the capital for Allen & Overy.