Regional accountancy firm Bishop Fleming, which has its largest office in Bristol, has completed the sale of a mechanical and electrical maintenance group on behalf of its shareholders.
Acorn Engineering Group, based in Slough, was acquired by Cambridge Maintenance Services for an undisclosed sum in a deal that provides a further boost to both companies’ growth plans. 
Founded in 1984, Acorn Engineering employs more than 120 staff and operates across London and the South East on planned and reactive mechanical, electrical and water treatment services.
It also has a specialist building management system and analytics company to help clients improve building performance and reduce energy usage and costs.
Cambridge Maintenance Services is a nationwide supplier of technical engineering services, offering mechanical and electrical planned preventative maintenance, as well as round-the-clock reactive services for a diverse set of clients.
The combined group has a turnover of more than £32m and 300-plus employees. 
The deal was backed by London-based private equity firm Rockpool Investments, which also funded Cambridge Maintenance Services’ MBO last year.
Bishop Fleming corporate finance partner Charles Davey, pictured, said: “I am delighted to have delivered this transaction for the shareholders.
“For more than 35 years they have built a fantastic business with an excellent reputation in its sector.
“The company has ambitious plans to grow and the combined experience of Cambridge and Rockpool makes them the ideal partner to take the business forward into the next phase of its development.”
Acorn Engineering Group chairman Graham Errington added: “I am proud of what we have built at Acorn and I am really pleased to have achieved this deal.
“I want to thank the team at Bishop Fleming for the dedication and professionalism they have shown. They have expertly guided us throughout the process and delivered a fantastic result for the shareholders and the company.”
Jason Milkins and Laura Guest of Bristol boutique law firm Roxburgh Milkins provided legal advice to the shareholders throughout the transaction.
Rockpool and Cambridge Maintenance Services were advised by Taylor Wessing, Crowe, FinnCap debt advisory and Catalysis advisory. Clydesdale Bank provided additional senior loan facilities to support the acquisition.
Bishop Fleming, which also has offices in Bath, Exeter, Plymouth, Torquay, Truro and Worcester, provides a range of audit, accounting, tax and business consultancy services.
