16 June 2008

The Kinetics Group has acquired another gas company Sureway. Based in Birmingham. it is a successful gas and electrical installation and maintenance business operating in the social housing sector.

The acquisition, the second this year for Kinetics, expands the group’s gas division which now has over 450 Corgi qualified engineers, making it one of the largest employers of gas engineers in the country. In the Midlands, the Kinetics Gas division will be the third largest private operator in its market.

Sovereign and the Kinetics management team have grown Kinetics Group, both organically and through acquisition, over the past eighteen months to create a business now employing over 1,250 people nationwide and delivering revenues in excess of £115 million per annum.

Phil Hinson, Director at Sovereign, said: “Sureway’s maintenance expertise and IT systems fit well with Kinetics’ existing gas capability in and around Birmingham through Walmotts. Together the businesses will deliver a superior service to their collective customer base. We look forward to continuing to grow the group with further acquisitions nationally.”

Chris Cheshire, Group Managing Director at Kinetics, added: “The acquisition of Sureway is a strong strategic fit with the wider Kinetics gas installation and maintenance offering, and will allow us to diversify our customer base and extend our geographic reach. We look forward to working with the highly regarded team at Sureway.”