Acquisitive contractor Cardo Workforce has reported a two-thirds building up in its turnover because it targets for additional fast enlargement this 12 months.
The social housing upkeep and upkeep company reported turnover of £239m for the 12 months to twenty-eight February, up 66% at the £145m posted the former 12 months.
The company bought seven corporations in its reporting 12 months and if those corporations’ source of revenue for the entire 12 months were incorporated in Cardo’s accounts the entire ‘full-year foundation identical’ turnover would had been £314m. Cardo, which has bought 3 extra corporations since February, is focused on statutory turnover of £460m in its present 12 months.
The company, which is owned by way of non-public fairness company Buckthorn Companions and founder Liam Bevan, has posted fast enlargement in the previous couple of years, (see graph underneath) from £35.6m of turnover in 2023 to £239m in 2026. Its headcount greater than doubled from 784 in 2025 to one,643 lately.
The gang’s annual pre-tax benefit additionally just about doubled from £5m to £9.4m.
Cardo’s fresh acquisitions (see field underneath) come with the roofing department of Breyer Workforce, belongings of power services and products company SERS Workforce, roofing company Faskin Workforce and passive hearth protection company Gunfire.
Cardo gained a number of huge contracts within the 12 months, together with being appointed to L&Q’s £15bn main works funding programme and a £395m upkeep and upkeep contract with Dacorum borough council.
It was once additionally appointed to Notting Hill Genesis’s £1.5bn upkeep and upkeep works framework, spanning as much as 15 years throughout Higher London, in addition to securing a 12-lot appointment at the Greener Futures Partnership’s Dynamic Buying Machine, supporting power potency upgrades throughout a 300,000-home portfolio.
Cardo was once additionally appointed as the brand new upkeep and upkeep contractor for Wokingham borough council, overlaying as regards to 3,000 houses on a five-year contract, price £9m.
At-glance: Cardo’s fresh acquisitions
Within the 12 months to twenty-eight February, Cardo bought seven corporations:
April 2025 Cardo (South) Ltd bought the roofing department of Breyer Workforce Public Restricted thru a part of an asset acquire settlement
June 2025 Cardo (Scotland) Ltd bought the belongings of SERS Scotland Restricted a expert power services and products operator in Scotland
June 2025 Cardo (Wales & West) Ltd bought the belongings of SERS Workforce Restricted a expert power services and products operator in Wales
September 2025 the gang bought 100% of the stocks in CTS Tasks Restricted and CTS Tasks (Eire) Restricted, consultants in power, compliance and belongings services and products
December 2025 the gang bought 100% of the proportion capital of Faskin Workforce Restricted, a roofing specialist in Scotland
January 2026 Cardo (South) Ltd bought the belongings of Gunfire Restricted, a passive hearth protection specialist
February 2026 the gang bought 100% of the proportion capital of Trident Repairs Services and products Restricted, a cyclical and deliberate upkeep specialist running throughout the United Kingdom
Put up year-end, the gang has made 3 further acqusitions
15 Would possibly 2026 the gang bought 100% of the proportion capital of EFS Programs (UK) Ltd, a Wales-based electric upkeep specialist
10 July 2026, the gang bought 100% of the proportion capital of RLUK Fireplace Restricted and its subsidiary R Lewis & Co (UK) Restricted, a passive hearth protection specialist founded in Wales
14 August 2026,the gang bought 100% of the proportion capital Proper Contract Services and products Restricted, a plumbing and heating specialist founded in Andover
Liam Bevan, leader government Cardo Workforce, mentioned: “We’ve complemented our natural enlargement with acquisitions of companies that proportion our values and support our skill to ship at the floor. Bringing the ones groups in combination, whilst proceeding to speculate closely within the techniques and infrastructure had to fortify a industry of our measurement, has been no small endeavor, and I’m extremely happy with how our other folks have risen to that problem.
“The acquisitions we’ve finished since year-end, along with the ongoing energy of our underlying industry, give us important momentum as we transfer thru FY27. We’re focused on turnover of £500m, however our center of attention stays on disciplined enlargement, considerate integration, and handing over constantly fine quality services and products for our purchasers and the communities we serve.”
