PTSG is planning to raise £20 million via a cash placing to fund the £12 million acquisition and associated costs of buying Sheffield-based Guardian Electrical Compliance as well as supporting future acquisitions.
The acquisition of Guardian, an electrical testing and compliance company, will enhance PTSG’s presence in the electrical safety services market.
Guardian has a five-year CAGR in revenue and adjusted operating profit of 22% and 36% respectively.
Paul Teasdale, CEO of PTSG, said: “Today’s announcement marks a step-change in PTSG’s growth story as we substantially enhance our leading position in Electrical Services and demonstrate our intent to expand further our Fire Solutions business to meet the unprecedented customer demand.
“Guardian is a highly complementary and attractive acquisition. It has an exceptional growth track record, management team and large blue-chip customer base.
“Critically it fits our clear acquisition model by presenting significant opportunities for cross-selling additional PTSG services as well margin improvement whilst supporting our long-term goal of sector dominance.
“The transaction also reflects our determination to grow further our revenues from compliance related services that now stand at record levels.
“Furthermore, we believe Guardian’s proprietary software is unique in the market and, when combined with our own in-house platform, Clarity, will provide our customers with a highly advanced and compelling compliance solution.”