Family-owned generator hire company Power Electrics (Bristol) is expanding across the UK after snapping up a smaller firm in a deal put together by Bristol-based advisors.
Following the acquisition of Cambridgeshire-headquartered Power Electrics Ltd, which trades as PE Generators, the expanded business now has five sites stretching from Southampton to Glasgow as well as its head office in Warmley supplying diesel generator hire, sales, service and parts. 
The increase in coverage and equipment also means the new Power Electrics group has increased its specialist and skilled staff and now employs more than 300 people. The deal, the first of its kind for Power Electrics, also increasing the group’s total number of generators available to hire by more than 30%.
Power Electrics (Bristol) previously held a 15% stake in PE Generators. It acquired the remaining shares from Glasgow-based Turner group.
Power Electrics (Bristol) made a pre-tax profit of £4.55m on sales of £35.3m in the year to March 31, 2018. In the same period Power Electrics Ltd made a £146,000 loss on sales of £8.64m.
Power Electrics (Bristol) said the acquisition would increase its capacity to deliver temporary power solutions so improving its ability to reach a larger number of customers across the UK.
Power Electrics director John Pullin, who was also on the board of Power Electrics Ltd, said: “This is a major opportunity for us. The increased capacity and resource extend our coverage and reach, enabling us to provide the highest level of customer service on a national basis.” 
Power Electrics Ltd director Andy Pullin, who has joined the main group board, added: “This is such a great fit for us. Both businesses are generator specialists so we already have a great deal in common with Power Electrics Ltd. This move will enhance our brand, continue our growth and improve the service to our customers.
Power Electrics (Bristol) worked with the corporate finance team in the Bristol office of accountancy group KPMG, Bristol-headquartered national law firm Burges Salmon and the city office of national accountancy firm Haines Watts to complete the transaction. HSBC provided a funding package for the acquisition.
KPMG Bristol corporate finance director Tim Spooner, pictured, said: “We’re delighted that the team at Power Electrics chose KPMG to support them with this complex transaction, a simultaneous acquisition and share buyback.
“The South West continues to nurture highly successful businesses and Power Electrics is yet another example of a fantastic, family run business which is going from strength to strength. The deal gives Power Electrics national coverage in the generator hire sector and positions the company perfectly to benefit from the expected future increase in demand.”
The Burges Salmon team, led by partner Nick Graves and solicitors Briony Barber and Sophie Potter, advised Power Electrics on all legal aspects of the acquisition.
Power Electrics financial director Tony Jenkins said: “This is a strategically significant acquisition for our business, which provides us with increased capacity and extended resource, and we are grateful to the Burges Salmon team for its top-notch legal advice that helped us successfully complete the transaction.”
