Kinetics Group

Kinetics Group expansion
Published: 15th January 2007

Sovereign Capital has completed the £16m institutional buy-out (IBO) of Cheshire based DC Group Limited, incorporating Seaflame and Camerons, providers of gas maintenance services and fabric maintenance to the social housing sector.

The £16m deal was supported by Yorkshire Bank Specialist & Acquisition Finance North West and Midlands region, which provided a total debt package of £54.255m.

Established in 1946, DC Group Limited, a support services company, delivers maintenance services to social homes through long-term contracts with local authorities and housing associations. The group has two main divisions: Seaflame, the largest gas maintenance contractor in the London market and Camerons, which carries out social housing refurbishment .

Sovereign has supplied funds to finance the acquisition and has committed a further £10 million of equity to support the company's buy and build strategy.

The existing management team remain with the business.