London building services company TClarke purchases ETON for £1.5m

TClarke, a building services group, has purchased Eton Associates Limited (ETON), a privately-owned control specialist in London.

The joint companies will now offer various Building Management Systems that include mechanical and electrical monitoring of buildings. The company has paid an initial cash consideration of £1.5m.

ETON, a nationwide company delivering mechanical, ICT and electrical services, has worked with TClarke on various high-profile projects in London. ETON has been involved in major projects including Bloomberg London and Chiswick Park.

Jamie Ward, ETON’s managing director, said: “We are delighted to be joining TClarke, [who] has established an outstanding reputation within the industry for its first-class approach to working with clients on some of the most complex projects in the UK.

“We have always enjoyed working with them and by combining our expertise, I am confident that the prospects for our clients and staff will be greatly enhanced.”

The purchase of ETON is part of TClarke’s strategy to expand its range of services, providing comprehensive offers to customers.

Mark Lawrence, CEO of TClarke, commented: “We welcome ETON to TClarke and I am confident the business will reach new potential as part of a larger group enabling them to build the scale and number of projects undertaken.”

As of May 31, 2016, ETON reported revenues of £9.5m with gross assets of £3.2m and net assets of £0.7m.