NuGen Properties

Cardo adds third wheel

Cardo chief executive Liam Bevan

Private equity backed Cardo Group made its first acquisition in May with the purchase of LCB Group from Liam Bevan, and making him Cardo chief executive.

Earlier this month it bought Osborne Property Services Limited (OPSL) from Geoffrey Osborne Ltd as the Osborne group continued its retrenchment back to its core business of civil engineering.

Jefferies’ parent company, Jefferies Holdings Ltd, turned over £7m last year and is expected to do £11m this year to take group turnover for Cardo to £115m.

Osborne Property Services Limited 2 weeks ago. West Midlands based Jefferies has now been added to the Group’s portfolio of companies. 

Cannock-based Jefferies was established by Terry Ware in 2008 and, like its two stable mates, specialises in the social housing building maintenance sector.

Jefferies founder/director Terry Ware
Jefferies founder/director Terry Ware

Cardo chief executive Liam Bevan said: “This is the third company we have acquired with strong shared values and a demonstrable ability to improving the quality, energy efficiency and warmth of social housing homes and other properties. 

“This collective reputation gives us a strong foundation to seize emerging business opportunities. The acquisition of Jefferies extends Cardo Group’s geographical reach into the midlands and we are looking to build on that with a target to double Jefferies’ turnover in the next three years.” 

Cardo is substantially owned by Buckthorn Partners – the same private equity group that bought Amey from Ferrovial last year. Buckthorn partners include former chancellor Philip Hammond and former energy minister Colin Moynihan.

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Dan Morten 18/01/22

Easy to work with, Jordan and the team were professional and were easy to communicate with.
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NuGen Properties built an extension to the rear of my property, replacing the old conservatory. I am so pleased I chose this company. From the initial quotation, through the build and after they were professional, polite & well mannered. They kept the site tidy throughout the build and kept me informed of each stage as it happened. The work was finished to a good standard and I have had nothing but compliments on their work. I am already planning for them to come back and do some more work for me in a few months. I would 100% recommend them.

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