Electrical contracting firm 'powers up' with takeover

An electrical contracting firm has a new owner.

PASSfm has been bought by Emre Yilmaz.

The private investor says the swoop has secured “all existing jobs” at the County Durham company, adding it will provide “opportunities for future organic growth and further investment”.

The deal – completed for an undisclosed sum – will also see the Newton Aycliffe-based firm continue to operate under its existing name, with owner Paul Evans retiring.

Emre, who previously bought Darlington-based Harvey Electrical Services and LED & Power, which operates from Stokesley, North Yorkshire, said: “PASSfm is exactly the type of business we look for.

“It has a compelling reputation, an experienced team, established customers and a solid foundation from which we can grow.

“Paul has built a good business and, with his decision to retire, it was important we protected what he had created while giving PASSfm the opportunity to enter its next phase.

“Our immediate focus is on retaining the existing team, supporting customers and investing in the business.

“At the same time, PASSfm will benefit from being part of Ferro Property Management, our wider group of complementary electrical, energy and property services businesses.”

Paul added: “I wanted to make sure PASSfm was going to the right person; I wanted someone who understood the sector, valued the team and had the ambition and resources to take the company forward.

“Emre’s approach gave me confidence that PASSfm would be in safe hands.

“The retention of staff and existing jobs was particularly important to me, and the business has an incredibly positive next chapter ahead.”

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