Pace Group Reaches 20-Acquisition Milestone with South West Expansion
Pace Group has reached another significant milestone in its continued growth, completing three further acquisitions and establishing its first permanent presence in the South West of England.
The Group has welcomed Ideal Lifts Services Limited, Elevators Ltd and City Lift Services into the Pace family, taking the total number of acquisitions completed since LDC’s investment in July 2024 to 20.
The latest additions further strengthen Pace Group’s nationwide coverage and add approximately 2,000 units to the Group’s maintenance portfolio, which now stands at around 15,000 units across the UK.
Expanding our UK presence
The acquisition of Devon-based Ideal Lifts Services, headquartered in Okehampton, marks Pace Group’s first base in the South West and represents an important step in developing truly nationwide coverage.
The Group has also welcomed Elevators Ltd, based in Kent, and City Lift Services, based in Cheshire, further strengthening Pace’s existing presence and capabilities across the South East and North West.
Together, the three businesses bring an additional 30 colleagues across office and field engineering roles, taking Pace Group’s overall headcount to approximately 240 people.
Since partnering with LDC in July 2024, Pace Group has continued to grow both organically and through carefully selected acquisitions, with revenue increasing from approximately £19 million to £40 million.
Building a leading national lift maintenance group
Commenting on the acquisitions, Lukas Schlenker, Director of Pace Group, said:
“Bringing Ideal Lifts Services, Elevators Ltd and City Lift Services into the Pace family marks an important milestone for us. In just over two years, we’ve expanded rapidly across the UK, while preserving the service, quality and compliance culture that continues to underpin our success.
“We’re looking forward to working with all three teams as we continue to invest in our capabilities and build a leading national lift maintenance business.”
The latest acquisitions continue Pace Group’s strategy of bringing together established regional lift businesses, supporting their continued development while retaining the local expertise, customer relationships and service standards that have made them successful.
Matt Newbold, Investment Director at LDC in the West Midlands, added:
“Scott and Lukas continue to deliver strong growth organically and through acquisitions. These three high-quality acquisitions will further strengthen Pace Group’s depth of nationwide coverage, enhancing service-levels to existing and new customers. We’re pleased to support the team as they continue their growth across the UK.”
Further coverage
The acquisitions and Pace Group’s 20-deal milestone have also been covered by LDC and TheBusinessDesk:
Read the full announcement from LDC
Read the coverage from TheBusinessDesk
Media enquiries
For further information or media enquiries, please contact:
Pace Group Communications
[email protected]