New future painted for PMS
Programmed Maintenance Services (PMS), based in Nottingham, has been bought by a rival group for an undisclosed sum. The industrial painting contractor was acquired from its Australian parent company.
Birkenhead-based Hankinson Painting Group has acquired the £11m-turnover company from its parent Programmed Group.
PMS offers long-term painting maintenance programmes for a wide range of public and private sector clients, as well as traditional painting and decorating services.
Its order book has more than 500 painting programmes in place, although the company made a pre-tax loss of £1.6m in the year to 31 March 2010.
PMS will now be rebranded back to Whittle – the name it traded under for more than 100 years prior to being acquired by Programmed Group in 2000.
“The acquisition of such a strong and well known name represents an exciting and significant development for the Hankinson Painting Group,” said Stephen Hankinson, chief executive of Hankinson Painting Group.
“The long-term maintenance services delivered by Whittle Programmed Painting diversifies the group’s offering and is also ideally suited to the present marketplace given its unique financial model, which enables customers to achieve a high standard of presentation for their properties without a large initial capital outlay.”
Roy Hankinson (Holdings), which trades as Hankinson Painting Group, has a turnover of more than £12m and employs 250 people across seven sites.
The business was advised by Mace & Jones and Baker Tilly. The transaction was supported by Lloyds TSB Commercial.
