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Sovereign Capital, a UK private equity buy-and-build specialist, has acquired fabric maintenance provider Lord via its portfolio company Kinetics. The acquisition is the fifth for the overall group in the past 15 months.

Rochdale-based Lord provides its services to the Greater Manchester social housing sector. The acquisition extends Kinetics’ existing fabric maintenance business in the North West, which has significant local government spend to improve the region’s social housing stock.

Combined with the Merseyside-based Camerons division of Kinetics, the group now serves a broader spread of local authority framework agreements. Through Lord, it will diversify its customer base with the introduction of education and NHS contracts.

As a result of the buy-and-build strategy, Kinetics has grown from a £32 million revenue business in 2006 to a company with annual sales in excess of £100 million. It employs 1,200 staff with offices in London, Liverpool, Manchester and Birmingham.

The directors of Lord, Janet and Andrew Lord, are to remain in the business and will assist with its integration into Kinetics and the development of existing customer relationships.

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