Property safety firm eyes growth after takeover

A property safety and compliance firm is targeting “significant growth” after being saved in a rescue deal.

Gas-Elec Group has been bought by Emre Yilmaz.

The private investor says the swoop has secured 75 jobs after staving off the threat of administration at the Suffolk-headquartered operator.

Bosses add the “hugely positive turning point” provides the company with “stability and a platform to move forward with confidence”.

The deal was completed for an undisclosed sum, with Gas-Elec Group’s management team remaining in post.

Founded in 1996, Bury St Edmunds-based Gas-Elec Group provides services including gas and electrical safety inspections, boiler servicing and installations, legionella risk assessments and PAT testing across the residential property sector.

Under the terms of the takeover, the business has joined its new owner’s Ferro Property Services arm, which includes previous acquisitions LED & Power, PASSfm and Harvey Electricals, with Gas-Elec Group already working with the Darlington-based latter company.

Emre said: “Gas-Elec Group has an outstanding reputation, a loyal customer base, a highly skilled team and a long track record of delivering essential services to the property sector.

“Without investment, the business faced a very uncertain future, and it quickly became clear this was a company worth saving.

“My focus now is on supporting the existing management team, investing in operational improvements and building on the strong foundations in place.

“I can see significant opportunities for growth.”

Kate Papworth, Gas-Elec Group operations manager, added: “The past year has presented significant challenges, but Emre’s investment has secured the future of the business, protected jobs and given our team renewed confidence.

“We look forward to working closely with Emre and the wider team as we begin this exciting new chapter.”

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