Sureserve

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Sureserve Group Limited
Company typePrivate
IndustryRenewable Energy Services

Energy Savings

Housing Compliance
Founded1988 (1988)
HeadquartersLondon, England
Area served
UK
Key people
Graham Levinsohn (CEO and Chairman)

Spencer Sheridan (CFO)

Paul Edwards (COO)
RevenueIncrease £351.1 million (2023)[1]
Increase £25.2 million (2023)[1]
OwnerCap10 Partners LLP (2023)[1]
Number of employees
2,741 (2023)[1]
DivisionsCompliance, Energy Services
SubsidiariesK&T Heating,

Aaron Services, Sure Maintenance, Gas Call, Swale Heating, Everwarm, CorEnergy, H20 Nationwide, Providor, Sureserve Fire & Electrical,

Dyson Energy Services
Websitewww.sureservegroup.co.uk

Sureserve Group Limited (formerly Sureserve Group Plc) is a UK-based renewable energy, energy savings, and whole-house compliance services group. It was founded in 1988, with headquarters in London. In May 2024, it employed around 3,500 staff in over UK offices.[2]

The group offered services in renewable energy services, energy savings, and compliance services[3] to social housing, education, public and commercial buildings, with a focus on the UK public sector and regulated markets. The business acquired has been acquisitive, having acquired Duality Group, a holding company of Gas Call and Dyson Energy Services based in Liverpool, as well as Swale Heating, a heating compliance business based in Kent.[4][5]

History[edit]

Steve Rawlings founded Lakehouse in 1988 and remained chief executive until 2014. Lakehouse floated on the London Stock Exchange in March 2015.[6] Ric Piper joined the Lakehouse board in 2016 as chairman.[7] Shortly afterwards, Piper was replaced by Bob Holt, who was appointed as director and executive chairman.[8]

Between 2011 and 2015 Lakehouse acquired ten complementary businesses to expand geographically and provide broader services. In 2011 Lakehouse acquired gas compliance services provider K&T Heating.[9][10] In 2012 it acquired fire compliance business Allied Protection.[11][12] Foster Property Maintenance was acquired in 2013.[9][13] In 2014 it acquired energy services provider Everwarm, who also install electric vehicle charging infrastructure and solar PV systems.[14][15][16] and water and air compliance services provider H2O Nationwide.[17] In 2015 it acquired smart metering specialists Providor,[18][19][20] energy services broker and energy management service provider Orchard Energy,[21][22] gas compliance services businesses Sure Maintenance[23][24] and Aaron Heating,[10][25][26] and lift compliance services provider Precision Lifts, the latter which was subsequently disposed of in 2023 following the acquisition of Sureserve.[27][28][29]

In July 2017, Lakehouse confirmed that its fire compliance business, Allied Protection, was engaged by Royal Borough of Kensington and Chelsea in January 2017 to certify installed fire safety systems in Grenfell Tower,[30] destroyed by a large fire on 14 June 2017. Allied was satisfied the system was maintained in accordance with the requirements and all evidence presented to date indicates that it performed as it was designed to do. Allied was however not responsible for the specification of the system.

In August 2018, Lakehouse sold its construction and property services operations, Lakehouse Contracts, to Mapps Group Limited, which was subsequently written off to £0 when the company entered administration.[31] By the end of 2019, subcontractors affected by the administration resulted in Mapps owing over £27m and Sureserve provisioning £5m.[32][33][34][35][36]

On 1 October 2018, Lakehouse announced it had changed its name to Sureserve Group Plc.[2][37] After five years at Sureserve, during which time he was credited with turning round the formerly struggling business, Bob Holt stepped down as chairman and CEO in March 2021.[38]

In April 2023, London private equity group Cap10 launched a £214m takeover bid for Sureserve.[39] The deal completed in July 2023, with Graham Levinsohn appointed as CEO and Chairman.

References[edit]

  1. ^ a b c d Cite error: The named reference Companies House was invoked but never defined (see the help page).
  2. ^ a b "Trading Statement, Change of name". London Stock Exchange. 1 October 2018. Retrieved 1 October 2018.
  3. ^ "Contractor appoints new chief executive". www.insidehousing.co.uk. Retrieved 2016-04-20.
  4. ^ Clegg, Andrew (2024-01-17). "Acquisition of Swale Heating by Sureserve". Quercus Corporate Finance. Retrieved 2024-05-14.
  5. ^ "Hill Dickinson advises Duality Group shareholders on sale to Sureserve". Hill Dickinson. April 2024. Retrieved 2024-05-14.
  6. ^ Wallace, Tim (2015-03-19). "Lakehouse hits £140m on stock market flotation". www.cityam.com. Retrieved 2016-05-03.
  7. ^ "Lakehouse Outlines New Board Composition As Meeting Adjourned". www.lse.co.uk. 2016-04-20. Retrieved 2016-05-03.
  8. ^ "Mears boss Bob Holt to help turnaround Lakehouse". www.constructionenquirer.com.
  9. ^ a b "Lakehouse acquires Wisbech property company". Insider Media Ltd. Retrieved 2016-04-20.
  10. ^ a b "Lakehouse acquires K&T Heating Services". www.theconstructionindex.co.uk. Retrieved 2016-04-20.
  11. ^ "Lakehouse swoops for Burgess Hill business". Insider Media Ltd. Retrieved 2016-04-20.
  12. ^ "Lakehouse buys fire alarm firm". www.theconstructionindex.co.uk. Retrieved 2016-04-20.
  13. ^ "East Anglian acquisition for Lakehouse". www.theconstructionindex.co.uk. Retrieved 2016-04-20.
  14. ^ "Funding for electric charging points available for businesses in Scotland". Sureserve Group. Retrieved 22 January 2020.
  15. ^ "Everwarm win Regional Solar PV Installer of the Year 2017". Sureserve Group. Retrieved 22 January 2020.
  16. ^ "Everwarm in all-share merger with Lakehouse". Herald Scotland. Retrieved 2016-04-20.
  17. ^ "Lakehouse catches legionella specialist". www.theconstructionindex.co.uk. Retrieved 2016-04-20.
  18. ^ "Lakehouse buys 130-strong smart metering business". Insider Media Ltd. Retrieved 2016-04-20.
  19. ^ "Lakehouse buys smart metering firm in £4.75m deal". Construction News. Retrieved 2016-04-20.
  20. ^ "Lakehouse Snaps Up Smart Metering Services Company Providor". www.lse.co.uk. Retrieved 2016-04-20.
  21. ^ Hill, Nick. "Lakehouse acquire West Yorkshire's Orchard (Holdings) UK for £7m". Bdaily Business News. Retrieved 2016-04-20.
  22. ^ "Lakehouse acquires Orchard (Holdings) UK". www.stockmarketwire.com. 13 July 2015. Retrieved 2016-04-20.
  23. ^ Hodgson, Neil. "Garston-based Sure Maintenance acquired in £8.85m deal". liverpoolecho. Retrieved 2016-04-20.
  24. ^ "Lakehouse Plc Acquires Sure Maintenance Group - Quick Facts". RTTNews. Retrieved 2016-04-20.
  25. ^ "Lakehouse To Pay Up To GBP10 Million For Aaron Heating Services". MorningstarUK. Retrieved 2016-04-20.
  26. ^ Brodie, Duncan. "Ipswich-based Aaron Heating Services to be acquired by Lakehouse". Ipswich Star. Retrieved 2016-04-20.
  27. ^ "Lakehouse buys lift specialist". www.theconstructionindex.co.uk. Retrieved 2016-04-20.
  28. ^ "Lakehouse buys lift specialist Precision". www.constructionenquirer.com. Retrieved 2016-04-20.
  29. ^ Clegg, Andrew (2023-10-30). "Disposal of Precision Lift Services to Anlev UK". Quercus Corporate Finance. Retrieved 2024-05-14.
  30. ^ "Lakehouse rebuts Hackney's attack". The Construction Index. 5 July 2017. Retrieved 5 July 2017.
  31. ^ Prior, Grant (19 August 2018). "Lakehouse sells construction and services arm for £500,000". Construction Enquirer. Retrieved 20 August 2018.
  32. ^ Prior, Grant (18 March 2019). "Lakehouse subbies plan showdown with Sureserve bosses". Construction Enquirer. Retrieved 19 March 2019.
  33. ^ Prior, Grant (17 April 2019). "Lakehouse subbie goes after Sureserve for cash". Construction Enquirer. Retrieved 17 April 2019.
  34. ^ Prior, Grant (7 May 2019). "Lakehouse went under owing subcontractors more than £9m". Construction Enquirer. Retrieved 7 May 2019.
  35. ^ Prior, Grant (12 August 2019). "Money owed to Lakehouse creditors leaps to £27m". Construction Enquirer. Retrieved 12 August 2019.
  36. ^ Prior, Grant (25 June 2019). "Sureserve sets aside cash after Lakehouse sale". Construction Enquirer. Retrieved 25 June 2019.
  37. ^ "New name for Lakehouse". The Construction Index. 1 October 2018. Retrieved 1 October 2018.
  38. ^ Morby, Aaron (18 March 2021). "Sureserve chairman Bob Holt makes sudden exit". Construction Enquirer. Retrieved 18 March 2021.
  39. ^ Morby, Aaron (21 April 2023). "London private equity firm launches bid for Sureserve". Construction Enquirer. Retrieved 24 April 2023.

External links[edit]

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