Tendra Technical Services has been formed by the Triton Smaller Mid-Cap Fund II as a platform for consolidating the UK technical services market across the built environment. Tendra initially consists of building services contractors The James Mercer Group and Fletchers Engineering plus Coat Facilities Group, a hard facilities management contractor.
Tendra is promising to offer 鈥渋ntegrated solutions to meet evolving customer needs, with the vision of becoming the national leader in technical services in the UK鈥�.
Further acquisitions by Tendra Technical Services in the building services sector are highly likely.
Andi Klein, managing partner and head of Triton Smaller Mid-Cap, said: 鈥淲e are excited to announce Tendra as our first Triton Smaller Mid-Cap investment in the UK. This marks an important milestone for Triton and reflects our commitment to building high quality platforms in fragmented markets.鈥�
Greg Davies, group chief executive of Tendra Technical Services, said: 鈥淭riton is the perfect partner for Tendra as we embark on building a strong and integrated platform. Triton鈥檚 experience with family-owned companies and its sector knowledge will be invaluable as we accelerate growth together. We look forward to collaborating with Triton in the years ahead.鈥�
The James Mercer Group, based in Preston with a branch in Liverpool, turned over 拢47m in 2024 and made a pre-tax profit of 拢3.6m.
Fletchers Engineering, based in Manchester, turned over nearly 拢17m last year and made 拢1m profit before tax.
Coat Facilities Group, based in Birmingham, turned over nearly 拢14m and made a pre-tax profit of 拢377,000.
If Triton is true to form, Tendra鈥檚 collective 拢78m turnover will pass 拢100m next year and beginning to soar as a debt-funded acquisition spree begins. Profit growth may take rather longer.
O鈥機onnor Utilities (OCU) turned over 拢295m in the year to April 2022 and made a pre-tax profit of 拢43m. 聽Triton Partners took it over in August 2022.
In the year to 30th April 2025 OCU turned over 拢886m 鈥� threefold growth in three years. However, saddled with debt it made a pre-tax loss of 拢63m.
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