Sheffield electricians merge to create ITI Electrical Services
A new electrical installation, maintenance and contracting company has launched following the merger of established Sheffield businesses RU Safe and Buzz Projects.
Trading as ITI Electrical Services, the venture will employ Buzz Projects’ four existing employees and 16 subcontractors, with plans to create further jobs over the next 12 months.
The company is part of the Templand Group and a sister firm to expanding wireless and telecoms business ITI Network Services, which works with multinationals across the UK and Europe.
The Templand Group chief exec Jason Denmark, who also serves as the MD of ITI Network Services, said: “When Steve Clarke and I created the Templand Group earlier this year to lead a management buyout of ITI Network Services, we stated a clear ambition to expand the business through acquisitions and organic growth.
“ITI has delivered an increasing amount of electrical installation and maintenance work to our blue-chip clients, and the opportunity to bring Buzz Projects’ highly experienced team into a new business within our group presented a natural and complementary fit.”
He added: “We look forward to creating new jobs within ITI Electrical Services. The new business has been built on the foundation of 30 years of solid commercial and industrial experience in electrical contracting.”
Buzz Projects director Jack Malia commented: “We’ve had an excellent relationship with ITI and many of the firm’s clients for several years now and I am thrilled by the new opportunities that this merger will create.
“We look forward to building on our and ITI’s strength and experience.”
Robert Hanney, director of corporate finance at Sheffield advisory firm Knowles Warwick, advised the Templand Group and ITI Electrical Services on the deal, while NatWest Commercial Banking senior relationship manager William Islip provided part of the funding to support the deal.
Legal advice was provided by Michele Phillips, director of corporate finance at law firm Lupton Fawcett LLP.
NatWest’s William Islip said: “I am delighted to be right behind ITI Electrical Services as they embark on a significant period of growth and market expansion throughout the UK.
“It will be an outstanding addition to the Templand Group that operates within an ever-evolving sector. It is exciting to provide continued financial support and I wish the business, staff and directors every success for the future.”
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