Acquisition of Swale Heating by Sureserve

January 17, 2024
Andrew Clegg

Quercus International is delighted to announce that it has advised the Sureserve Group (“Sureserve”) on the acquisition of Swale Heating Holdings Ltd and its subsidiary, Swale Heating Limited (together “Swale Heating”), a business delivering gas and renewable heating solutions to both public and private sector customers. This is the second time Quercus International has worked successfully with Sureserve, having previously sold the group’s lifts maintenance business in October 2023.

Swale Heating was established in 1972 to provide heating services to residential and social housing clients. Today, the business provides installation, repair and maintenance services to 140,000+ households located across South East of England, London and East Anglia, and generates turnover of c.£43m. It specialises in standard boiler installations, technical commercial projects and a range of renewable heating solutions, with comprehensive customer service delivered 24 hours a day, 365 days a year.

The acquisition will expand Sureserve’s footprint across the UK and helps to support its mission to be the trusted partner of choice to the social housing and related public sector in delivering essential and affordable heating, energy saving and compliance solutions.

Graham Levinsohn, Group CEO, Sureserve, said:

“We are delighted to welcome Swale Heating and its 375 employees and I would like to thank Quercus for advising on and executing this transaction. We look forward to working with the management and employees of Swale Heating to furthering our shared success.”

Amanda Hall, Partner, who led the Quercus team, commented:

“We are delighted to have been able to support Graham and his team at Sureserve on this important acquisition. We look forward to seeing Swale Heating continue to flourish and develop under Sureserve’s ownership.”

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