German manufacturer acquires County Durham renewable energy services specialist with multi-million pound investment
Global manufacturer Viessmann has completed a management buyout of County Durham based Pacifica Group’s Home Services division.
This was conducted in partnership with its existing senior management team, which will result in a multi-million investment in building a renewables-driven home services operation in the UK.
The German company, which manufactures a full range of climate control products and refrigeration solutions, has acquired Pacifica Home Services (‘PHS’), in conjunction with its management team, from Pacifica Group, Ltd, a portfolio company of leading European growth investor, Synova.
Synova will retain ownership of Pacifica Group together with its management team, which includes its appliances services and UK warranty divisions. Synova will continue to support the development of Pacifica Group, which repairs over 350,000 home appliances every year.
Kevin Brown will remain as CEO of North East based Pacifica Group as well as taking the role of non-executive director in the new standalone home services business, whilst Phil Pallister will lead PHS as its chief executive officer.
Viessmann, which has already made 22 international acquisitions in countries including South Africa, Australia and the Netherlands, will benefit from PHS’s “well-established UK domestic energy services”.
PHS installs and maintains home heating systems and provides insulation services to a cross section of customers including utility companies, housebuilders, housing associations and private customers.
The acquisition includes Pacifica’s Oakes Energy Services business, which provides dedicated renewable energy solutions, such as air and ground source heating, and solar PV for both domestic and commercial property markets.
This new collaboration will support the UK’s net-zero ambitions and is in line with the UK government’s ban on gas boilers for new build properties from 2025. As the European market leader in the electric heat pump segment, Viessmann is equipped to support this strategy, combined with PHS’s UK market experience.
Kevin Brown said: “This is a significant investment from a major EU based company into the UK, highlighting that Britain remains an attractive proposition for international organisations looking to increase their market share.”
Phil Pallister added: “PHS has become one of the UK’s largest providers of home heating, insulation and renewable energy systems and we are looking forward to working with Viessmann to further expand our market position and help it strengthen its green energy solutions activity.”
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