Rainsford Contracts is a joinery and fit-out specialist based in Sevenoaks, Kent. With backing from Tnui Capital it has acquired an 80% controlling stake in Bristol-based mechanical & engineering company Avon Combined Electrical Services (ACES) from private equity firm RDCP Group.
ACES managing director Steve Sage will continue to lead the M&E business as it transitions to work alongside Rainsford Contracts, with a target combined annual turnover of £45m.
Rainsford Contracts chief executive John Self said: “Our investment in ACES will enable us to combine our strengths in delivering high quality construction services and ensure that ACES has a successful and sustainable future”.
ACES managing director Steve Sage said “This next step in ACES’ evolution will provide new and exciting prospects for our entire team. I am looking forward to working closely with Rainsford Contracts, to foster new opportunities and maintain our drive for service excellence in M&E services.”
Tnui Capital chief executive Bryan Green said: “We are dedicated to supporting UK business to thrive and grow and will bring our wealth of experience in business strategy and business management advice to support ACES successes in the long term.”
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