Hankinson buys paint firm and jobs worth £11m

Grant Prior 12 years ago

Commercial and industrial specialist Hankinson Painting Group has bought Programmed Maintenance Services UK from its Australian owner.

Maintenance, painting and decorating firm Programmed has been rebranded back to its former name and will operate as Whittle Programmed Painting.

The deal boosts Hankinson Painting Group’s forward order books adding more than 500 long term painting contracts worth £11m.

The contracts cover a range of sectors including healthcare facilities, schools, historic buildings and race course property.

Birkenhead based Hankinson has a turnover in excess of £12m and directly employs 250 people across its seven UK sites, with  clients including The Highways Agency, Vinci, Bovis Lend Lease, Alstom Power, Mears, Vauxhall Motors and Heinz.

Group Chief Executive Stephen Hankinson said: “I am delighted that such a strong and well known name has become a part of the Group.

“We share a passion for delivering industry-leading performance, continuous improvement in service delivery and a commitment to the training and development of our people.

“The long-term maintenance services delivered by Whittle Programmed Painting Ltd are the result of 50 years’ development and refinement.

“These services not only diversify Hankinson Painting Group’s offering but are also ideally suited to the present marketplace given the unique financial model, which enables customers to achieve a high standard of presentation for their properties without a large initial capital outlay.”

Hankinson Painting Group was advised by legal firm Mace & Jones and accountants and financial advisors Baker Tilly. The transaction was supported by the company’s bankers, Lloyds TSB Commercial.

Ian Latham, Corporate Finance Partner, Baker Tilly, said: “The acquisition of Programmed Maintenance Services UK Limited enables the Hankinson Painting Group to become a leading national provider of long term painting programs and to have the platform to target new customers in this market.

“The ability to spread the cost of large projects and define a recurring annual budget for maintenance spend is very attractive to potential customers in the current economic climate.”

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