The Essex based contractor has paid £7m for energy management specialist Orchard (Holdings) UK Ltd with a potential £3m extra payment depending on future performance.

Orchard employs 78 staff and is based in Elland, West Yorkshire, with offices in Glasgow, Bristol, Newcastle and Northampton.

Following completion of the acquisition Orchard’s management team will remain with the business. and the move boosts Lakehouse’s total staff headcount to 1,400.

Lakehouse said: “The acquisition of Orchard will enhance Lakehouse’s existing offering to social housing clients in addressing the challenge of fuel poverty.

“The Group’s Energy Services division currently combines insulation and thermal efficiency services, renewable technology expertise and a smart metering specialism and  the acquisition of Orchard extends this service offering to support clients in enhancing the effectiveness of their energy procurement and usage.”

Stuart Black, Executive Chairman of Lakehouse, said: “Following our successful initial public offering earlier this year, this acquisition further endorses our strategy of acquiring and integrating businesses which expand our service offering and geographical reach.

“Orchard’s strong client base, excellent relationships with utilities firms and market-leading customer service open up new opportunities for growth in the energy services market.

“Bringing together energy efficiency, water management and smart metering expertise alongside Orchard’s brokering service, the Group’s Energy Services division offers an increasingly broad, national proposition to clients looking to manage their energy usage and meet challenging carbon savings targets.”