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Sat December 09 2023

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Cardo adds third wheel

15 Sep Two week safter buying Osborne Property Services, newly-formed Cardo Group has taken over Midlands building maintenance specialist Jefferies Contractors Limited.

Cardo chief executive Liam Bevan
Cardo chief executive Liam Bevan

Private equity backed Cardo Group made its first acquisition in May with the purchase of LCB Group from Liam Bevan, and making him Cardo chief executive.

Earlier this month it bought Osborne Property Services Limited (OPSL) from Geoffrey Osborne Ltd as the Osborne group continued its retrenchment back to its core business of civil engineering.

Jefferies’ parent company, Jefferies Holdings Ltd, turned over £7m last year and is expected to do £11m this year to take group turnover for Cardo to £115m.

Osborne Property Services Limited 2 weeks ago. West Midlands based Jefferies has now been added to the Group’s portfolio of companies. 

Cannock-based Jefferies was established by Terry Ware in 2008 and, like its two stable mates, specialises in the social housing building maintenance sector.

Jefferies founder/director Terry Ware
Jefferies founder/director Terry Ware

Cardo chief executive Liam Bevan said: “This is the third company we have acquired with strong shared values and a demonstrable ability to improving the quality, energy efficiency and warmth of social housing homes and other properties. 

"This collective reputation gives us a strong foundation to seize emerging business opportunities. The acquisition of Jefferies extends Cardo Group’s geographical reach into the midlands and we are looking to build on that with a target to double Jefferies’ turnover in the next three years.” 

Cardo is substantially owned by Buckthorn Partners – the same private equity group that bought Amey from Ferrovial last year. Buckthorn partners include former chancellor Philip Hammond and former energy minister Colin Moynihan.

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