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Monday, June 17, 2024

Overseas expansion: Lancashire-based LCM Environmental acquires PIS (Ireland) and marks the beginning of the LCM Group in a seven-figure deal.

With their second acquisition in the past month, Padiham-headquartered LCM Environmental expand to Irish soil with the purchase of PIS (Ireland). This acquisition provides the fuel quality and tank infrastructure business with an opportunity to further increase its focus on forecourt projects and serve other public and private organisations that have previously been outside of their scope. This acquisition marks the foundation of the LCM Environmental Group of businesses and provides a new gateway to a wider European marketplace.

LCM Environmental have exhibited unprecedented growth in the past two years – their turnover has doubled, the service offerings have significantly increased, and their staff numbers have grown accordingly. Following the acquisition of South Midland Installations in October, the company has now proudly taken PIS (Ireland) under their banner as part of the newly formed LCM Group to provide a base in a new location and increase the LCM Groups’ offering throughout both the UK and Ireland.

Similarly, PIS (Ireland) are fuel management and forecourt installation market leader and will benefit from LCM’s experience in tank management, as well as fuel risk mitigation and other types of maintenance services.

Richard Wallace, CEO of LCM Environmental comments: ‘It has been a long-term goal of LCM Environmental to acquire an Irish base and expand overseas. We are happy to announce that this is now a reality, and we look forward to integrating PIS (Ireland) capabilities within the company. The start of the LCM Group marks a new beginning for us, as a business – we are more determined than ever to keep growing within the industry and reach new heights in the coming months!

Colin Doyle, General Manager of PIS Ireland, shares: ‘We are thrilled to become a part of the LCM Group. With our combined in-house capabilities, extensive fleets and trained experts, LCM and PIS complement each other on all levels. Over the years that followed PIS Ireland’s foundation in 2012, the company has established a prominent reputation within its sector and has formed strong relationships with a multitude of clients across the UK. As such, it is now in an excellent position from which to achieve considerable further expansion alongside LCM.’

With over 60 years of combined experience, the two companies can now benefit from each other’s established customer bases and cover a greater footprint across both the UK and Ireland to help drive further efficiencies. PIS (Ireland) will continue to trade under their own name, only now operating as part of the LCM Group all while guaranteeing their current clientele a seamless transition and a significant expansion in in-house services going forward. As for LCM Environmental’s current client base, they can now benefit from the additional resources the company has acquired in regard to petrol forecourt installations and further site commissioning technical expertise.

This acquisition was facilitated by Mills Selig Solicitors, Clarion Solicitors, and O’Reilly Stewart Solicitors. Tax advice was provided by BHP Chartered Accountants and funding by Barclays Bank.



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