Sovereign-backed Kinetics in sixth deal

Gas installation and maintenance group Kinetics, owned by private equity firm Sovereign Capital, has made its sixth acquisition.


Gas installation and maintenance group Kinetics, owned by private equity firm Sovereign Capital, has made its sixth acquisition.

Gas installation and maintenance group Kinetics, owned by private equity firm Sovereign Capital, has made its sixth acquisition.

Kinetics has bought Leicester-based Thorpete Associates, which was founded in 1995 by social enterprise TREES Group to provide jobs for former British Gas engineers and young people in deprived areas.

Sovereign Capital director Phil Hinson describes the bolt-on acquisition, which was completed in just three weeks, as an ideal fit for Kinetics. He adds, ‘The transaction consolidates Kinetics as a key player in Central England and further develops its customer base.’

Chris Cheshire, CEO of Kinetics, says that the Thorpete brand will be retained under the Kinetics umbrella.

Sovereign continues to assess the market for further acquisitions for Kinetics.

Nick Britton

Lexus Ernser

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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