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Welsh firm Cardo Group acquires Heatcare Oil and Gas in Scotland

Cardo Group's acquisition of Heatcare marks its first venture into the Scottish market.

Cardo Group acquisition of Heatcare Oil and Gas in Scotland
Welsh firm Cardo Group expands its portfolio with Heatcare Oil and Gas acquisition.

In a significant move, the Welsh-based Cardo Group has acquired Heatcare Oil and Gas, marking its first foray into the Scottish market. Founded in 2000 and headquartered in Keith, Heatcare has established itself as a reputable provider of heating, electrical, plumbing, and joinery services for both domestic and commercial properties.

With an impressive turnover of £10 million, the company employs 85 individuals across Scotland, with 45 based in Keith, and additional offices in Aberdeen and Elgin.

Details of the acquisition

The acquisition, the financial details of which remain undisclosed, ensures that all Heatcare staff will transition to new ownership while continuing to operate under the Heatcare brand.

This strategic move is expected to enhance Cardo’s service offerings and expand its operational footprint in Scotland. Cardo Group, which boasts an annual turnover of £150 million, specializes in building maintenance services for social housing providers and public bodies across South Wales and England.

Future growth and leadership

Cardo’s entry into Scotland is seen as a precursor to further growth, with plans for expansion anticipated in the coming weeks. The leadership team at Heatcare, including directors Calum McCombie and Darren McLeod, will remain in place to facilitate a smooth transition to Cardo Group. McCombie expressed enthusiasm about the acquisition, stating, “It has been a privilege for Darren and me to lead Heatcare and work alongside such a dedicated team. Our focus on delivering reliable and efficient heating solutions aligns perfectly with Cardo’s vision for energy-efficient systems.”

Cardo’s vision for the future

Cardo Group, established in 2022, aims to leverage the expertise of the Heatcare team to enhance its capabilities in delivering high-quality, energy-efficient solutions. Liam Bevan, the chief executive of Cardo, welcomed the Heatcare team into the Cardo family, emphasizing the importance of their extensive expertise in conjunction with Cardo’s strengths in mechanical engineering, renewables, and retrofit services. Bevan stated, “Their extensive expertise, combined with our existing strengths, will further elevate our ability to deliver high-quality, energy-efficient solutions.”

This acquisition not only signifies Cardo’s commitment to expanding its services but also highlights the potential for job creation in the region as the company looks to grow its operations in Scotland.


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