Thermotech continues expansion with Oakwood purchase

Thermotech continues expansion with Oakwood purchase

Stockport building services group Thermotech has acquired air conditioning specialist Oakwood to operations add significant capabilities and scale to their existing fire protection and mechanical services businesses.

Oakwood has a 40 year history since it was started by MD, Jon Holmes. Jon, and sales and technical director, Charles Hart, will both remain in their existing roles to manage the business, which has offices in both Cheshire and London. 

Bill Squires, chief executive of Thermotech commented: “We are delighted to welcome the whole Oakwood team to Thermotech. Their operations add significant capabilities and scale to our existing fire protection and mechanical services businesses.

"Our combined turnover is now heading towards £20m. Jon and Charles have built strong, long-term relationships with impressive clients and we look forward to the benefit they will bring to our combined growth.”

Thermotech operates nationally providing service and maintenance, and system design and installation services for clients including Betta Living, Boots, John Lewis Partnership, M&S, and Sofology and a large portfolio of commercial offices and shopping centres.

Jon Holmes, MD of Oakwood, said: “We are excited to be working with the team at Thermotech. We are pleased to join an organisation with a similar culture and values that shares our passion for service excellence.”

The acquisition has been financed with lending facilities from Allied Irish Bank (GB). Mike Rogers said: “We are delighted to have been able to support the Thermotech team in growing their business by providing the funding for the acquisition. AIB (GB) is committed to helping business owners achieve their goals and we look forward to working with the team as it continues on its growth journey.”