Loft Creations, the rapidly growing Yorkshire loft conversion specialist, has acquired established construction business K&B Harrogate for an undisclosed sum.
K&B Harrogate was established in 2010 by managing director Darren White. The deal brings the firm’s operations as part of the Loft Creations business from April, and sees Mr White join the board of Loft Creations as head of operations.
Launched in November 2013, Loft Creations has an ambitious expansion plan that has already seen the firm grow to employ five staff from its Knaresborough offices in less than six months. Founded by former accountant James Roach with significant private backing, the business aims to provide a professional, accountable and completely managed conversion service for homeowners looking to maximise the living space in their homes.
Managing director, James Roach said: We are interested in growing both organically and by acquisition.
We are really pleased that we were able to bring Darren and the K&B Harrogate team into our business to kick on our growth plans so early.
Darren White said: The Loft Creations concept and its brand was so compelling that joining forces to help create a much larger specialist loft and residential space conversion business was too good to ignore,” said. “Our customers will get all our expertise with the in-house architectural knowledge and customer service support that Loft Creations has brought to the sector for the first time, and that’s a great new offering in this market.
In January Loft Creations announced sales of £250,000 in their first quarter trading, and following the deal the business is expected to increase its first year turnover to over £1.2m.
The recent flat property market and a flurry of ‘develop your home’ TV series have increased the number of homeowners looking to develop their own property to its maximum potential size and value. This, coupled with a slow moving property market have contributed to property owners looking to develop attic space, cellars and garages as additional valuable living space, driving significant growth in the home renovation and loft conversion market.
Already the firm employs five head office customer service, design and operations staff with a further 20 full time sub contractors delivering the conversions right across Yorkshire. The company currently has 10 live projects underway including conversions in Harrogate, York, Thirsk, Scarborough, Leeds and Wakefield.
Mr Roach said: K&B has a really strong reputation for quality work and excellent service, and Darren was keen to be part of our national growth ambition, and the combination of the two firms is an ideal step forward for us together under the Loft Creations brand.