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Lords Group Trading today announced its latest acquisition, which was the purchase of 90% of Bicester-based Ultimate Renewables Supplies for a total net consideration of £646k. Ultimate Renewables Supplies, established in December 2022, provides a full design and commissioning service to installers and independent merchants of heat pumps and renewable energy products and will be integrated into Lords’ Plumbing and Heating division. For the year ended 31 December 2023, Ultimate Renewables Supplies reported revenue of £1.1m and a loss after tax of £66k. Revenue in the last 12 months to 31 August 2024 exceeded £2.2m, implying a trailing purchase multiple of 0.3x revenue.
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