Building maintenance and retrofit firm Cardo Group has continued on the acquisition trail after buying the roofing business of Breyer Group.
Cardo completed a deal on Friday (11 April) to acquire the entire roofing division of the Essex-based contractor, which fell into administration earlier this month.
The financial details of the acquisition were not disclosed.
Separately, Cardiff-based Cardo has also taken on Breyer’s repairs and maintenance contract with Kingston-upon-Thames Council, which covers around 6,000 homes.
Breyer was awarded a £163m contract with the council last summer.
Both agreements mean nearly 100 jobs have been protected, according to Cardo.
Its chief executive Liam Bevan said: “We’re working closely with local authorities, registered providers and stakeholders to make this transition as smooth as possible – making sure services continue seamlessly and that new colleagues joining Cardo feel welcomed and supported.”
Breyer, which appointed administrators on 1 April, reported a monthly average of 254 staff and turnover of £83m, with a pre-tax profit of £637,084, in its last filed accounts for the year to 31 May 2023.
Administrators from RSM UK previously said a sale of “certain parts” of the the 69-year-old firm was being explored.
RSM UK partner Glen Carter said the Cardo transactions had “preserved a significant number of jobs and allows services to certain clients to be maintained”.
Cardo Group, which works for social housing landlords and public authorities, has made a string of acquisitions since it was formed nearly two years ago.
This year alone it has bought two businesses in Scotland – property maintenance services firm Rodgers & Johnston and energy services provider Heatcare Oil and Gas.
In 2024, Cardo acquired Welsh mechanical and electrical firm Tim O’Brien and Cardiff-based property maintenance and refurbishment company A&N Lewis.
The group also acquired Osborne’s property maintenance arm in September 2023.
Cardo currently operates across South Wales and the South West, London and the South East, the Midlands, and Scotland.
In its last reported full-year results to the end of February 2024, the firm reported a pre-tax profit of nearly £1.2m on turnover of £83.6m.
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James Wilmore