Hankinson Painting Group acquires Australian owned PMS UK Back

Date published: February 18, 2011

Leading independent commercial and industrial painting contractors Hankinson Painting Group has acquired Programmed Maintenance Services UK Ltd from its Australian owners for an undisclosed sum.

The deal boosts Hankinson Painting Group’s forward order books with over 500 long term painting programmes, with a turnover in excess of £11M. These programmes span a wealth of public and private sector businesses including healthcare facilities, schools, historic buildings and race course property.

Programmed Maintenance Services UK will be immediately rebranded back to Whittle, the name it traded under for over 100 years, prior to being acquired by the Australian Programmed Group in 2000.

New company Whittle Programmed Painting Ltd, a part of the Hankinson Painting Group, will operate as normal, continuing to offer its industry-renowned maintenance programmes and traditional painting and decorating services.

Birkenhead-headquartered Hankinson Painting Group, established 36 years ago, 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 Plc, 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.”