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Sun October 22 2017

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News » UK » Lakehouse sells consultancy business » published 3 Oct 2017

Lakehouse sells consultancy business

Building maintenance contractor Lakehouse has sold its Orchard business, which provides advice to corporate clients on managing energy costs.

World Fuel Services Europe has bought Orchard from Lakehouse for £12.4m representing an estimated gain on book value of £5m for the vendor.

“The sale of Orchard, a white collar business, will allow the group to concentrate on its operatives-focused activities within its compliance and energy services divisions,” Lakehouse said. It will also help reduce debt.

In the year to 30th September 2016, Orchard reported a turnover of £6.3m and profit before tax of £2.5m.

Meanwhile, Lakehouse’s energy services division has won its first contract under the Excel energy efficiency framework, a £4m award from Renfrewshire council for external fabric improvements. 

Lakehouse has also secured a place on a £44m housing improvements framework with Aberdeenshire Council. Work will include external upgrades, internal refurbishments, domestic heating programmes and renewable energy installations up until late 2021.

 

 

MPU

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This article was published on 3 Oct 2017 (last updated on 3 Oct 2017).

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