Following record growth of £71m and net profit of £3.8m in 2015 and cash in hand of £10.8m, the Group CEO, Sean Smyth announces that WT Parker Group has purchased a majority interest in electrical engineering services company, Seymour & Castle Ltd based in Louth, Lincs.
Seymour & Castle is a 50 year old company and well established in the East of England with a turnover in excess of £6m, over 50 directly employed staff and with a strong client base and reputation for quality.
Mr Smyth commented “It is very rare that the perfect fit comes along for an acquisition, however, Seymour & Castle has very similar values to WT Parker Group i.e. quality in workmanship and care for its workforce”.
As a complement to this acquisition, WT Parker Ltd have expanded into their new office based in the heart of Cambridge with over 2,000 sq ft of office space set over 2 floors located in the CB1 area in proximity of the station giving access not only to Cambridge but all surrounding areas.
With its strong mechanical and electrical background, this now places the company in a strong strategic position offering the full WT Parker Ltd services to a broader spectrum of clients in this expanding local economy.
The WT Parker Group has experienced strong growth and profitability and with another two parts of the jigsaw added, are setting their vision towards becoming a £100m turnover privately owned business.