The deal marks the fifth business to join the Lakehouse Group since 2011 and another step in its strategy to acquire successful, complementary firms. Bringing H2O into the group reflects Lakehouse's ambition to bolster the capabilities of its successful compliance division, which already provides fire safety and gas and heating services through Allied Protection and K&T Heating.
Based in Basildon, H2O is a specialist in legionella control and was founded in 1998 by Steve Lorriman and Martin Stevenson, both of whom will join the Lakehouse management team as directors of its water treatment business.
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H2O provides services for approximately 350 clients across 1,000 properties. Current clients include local authorities, housing associations, NHS Trusts, student accommodation providers and hotel and leisure operators. The company employs 40 staff and in 2013/14 reported an annual turnover of £3.4 million.
Stuart Black, executive chairman of Lakehouse, said: "H2O Nationwide fits perfectly within Lakehouse’s compliance division and this deal is another positive step in our strategy to acquire successful, complementary businesses. By embedding H2O alongside our fire protection and gas services, we will bolster our offering to social housing and public sector clients and give them confidence in meeting their regulatory requirements.
"There is strong cultural alignment between our businesses and we are both closely focused on maintaining our excellent delivery record, creating new opportunities and cross-selling our services, as well as further developing our client and supply chain partnerships."
(CD)
