NEWS
P&M strengthens northern presence with HBCL acquisition
T
he P&M Group has expanded its footprint in the North of England with the acquisition of Bradford-based HBCL
Coldstores, marking a signifi cant step in the group’s long-term growth strategy. The move forms part of a period of rapid
expansion for the cold chain solutions specialist, whose core business includes cold store construction expert ISD Solutions. Group turnover has risen sharply from £58 million in 2024/25 to £88 million in 2025/26, with further growth expected through a blend of organic development and targeted acquisitions. The acquisition comes at a time of strong performance across the UK cold chain sector. The logistics market is forecast to grow quickly, driven by rising e-commerce volumes, pharmaceutical distribution needs and evolving food sector requirements. Operators are increasingly investing in automated, sustainable and energy- effi cient facilities.
HBCL, founded nearly 25 years ago and owned
by husband-and-wife team Craig and Caroline Lovett, has built a strong reputation in the retail sector. The company will retain its brand identity and its 27 employees, while gaining access to P&M’s wider expertise, resources and supplier network. Craig Lovett will continue as managing director. “We are delighted to announce the acquisition
by the market leader in our industry,” Mr Lovett said. “Jointly, we envisage a stronger market
L to R: Adrian Smith, Andy Moon, Tony Wall, Craig Lovett and Caroline Lovett.
presence while maintaining our values and service levels. The sale came after thoughtful consideration of how best to ensure HBCL’s future success, and we felt that The P&M Group were a great fi t for us, with similar values, shared expertise and a united vision.” Tony Wall, managing director of the P&M
Group, highlighted the longstanding relationship between the two businesses. “HBCL have been
in business for almost 25 years and many of our staff are already familiar with the company and the Lovett family,” he said. “Personally, Craig and I have known each other for many years and it is this long-standing relationship that has led him and Caroline to join forces with us. We are also delighted to confi rm that Craig will be remaining with the business as we move forward together.”
AC Wilgar acquired by The Perpetuity Project
C Wilgar, the long-established heating, plumbing and air conditioning services provider, has been acquired by European perpetual holding company The Perpetuity Project. Founded in 1985 by Billy Wilgar, the business has grown over four decades into a well-known service provider across London and the Southeast. Wilgar sought a buyer who could support continued expansion while maintaining the culture and values that shaped the company’s development.
A
Wilgar said the decision was about more than completing a deal, emphasising the importance of fi nding a partner aligned with the fi rm’s long- term vision. He praised The Perpetuity Project’s approach and highlighted the role Entrepreneurs Hub played in guiding the process. The Perpetuity Project emerged as the
preferred acquirer due to its commitment to preserving the company’s existing ethos while providing investment for future growth. Rob Rickard, who led the deal
for Entrepreneurs Hub, which advised AC Wilgar on the transaction, said both parties demonstrated integrity throughout the process and are well-positioned for future success. Entrepreneurs Hub Co-Founder Malcolm
Murray added that AC Wilgar’s strong reputation, technology and loyal customer base made it essential to fi nd a partner capable of supporting the next stage of development.
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