Cardo Group strengthens with purchase of Merthyr electrical and engineering firm EFS Systems
Cardo Group has expanded its service offering with the acquisition of Merthyr Tydfil-based electrical and engineering firm EFS Systems, further strengthening its position in the building maintenance and contractor sector.
The Cardiff-headquartered group, which employs more than 1,600 people and projects annual revenues of £400 million for the 2026/27 financial year, has not disclosed the value of the deal. Legal and professional services firm Knights advised Cardo on the transaction through its Cardiff office.
EFS Systems, established in 2003, is an established contractor delivering commercial, industrial and renewable energy projects. Its capabilities span electrical design, installation, inspection, testing and maintenance, as well as fire and security systems, data and networking, solar panel installations and electric vehicle charging solutions. The firm is NICEIC approved and ISO certified, and is led by managing director Robert Hadley.
Strategic fit with Cardo’s growth plans
The acquisition is strategically aligned with Cardo Group’s existing maintenance, compliance, retrofit and decarbonisation offering. It adds significant electrical services capability and energy-efficient technologies to the group’s portfolio, bolstering what Cardo terms its “self-delivery capability” and extending its footprint across Wales and the wider UK.
Cardo Group, established in 2023, operates a total asset management model focused on social housing and public sector buildings. Its core services include building repairs, maintenance, compliance, retrofit and decarbonisation, with an emphasis on long‑term enhancements and energy‑efficient solutions. The group is recognised by the Institute of Customer Service for service excellence and holds ISO 9001 certification.
The deal fits a wider acquisition strategy that has seen Cardo complete 14 transactions in the last three years alone. Recent purchases include Trident Maintenance Services, SERS Energy Solutions, Breyer Group’s roofing division, HeatCare Oil and Gas, and A&N Lewis Limited. The group’s leadership is headed by chief executive Liam Bevan, a co‑founder who began with his first building maintenance business, LCB Construction, in 2010, and executive chair Jane Nelson, who co‑founded the group and focuses on long‑term strategy and governance.
The acquisition also positions Cardo within a growing UK market for decarbonisation services, projected to reach $241.4 billion by 2030, and a renewable energy sector valued at $23.86 billion in 2024, with a compound annual growth rate of 20.6% to 2030. EFS’s solar and EV charging offerings are among the segments expected to see significant growth.
Quotes from leadership
Liam Bevan, chief executive of Cardo Group, said: “We’re really pleased to welcome the EFS Systems team into Cardo Group. Their track record of high‑quality, people‑focused services aligns closely with how we approach our work.
“Rob and the EFS Systems team have been trusted partners of mine for over 10 years, and we’ve worked closely with them on projects for a wide range of clients during that time.
“This acquisition strengthens our ability to deliver integrated services for our clients, while continuing to grow our presence in key regions. Just as importantly, it brings in a team with the right values and expertise to support our long‑term ambitions.”
Emma Borrington, corporate partner at Knights, said: “We were delighted to support Cardo Group on this acquisition. EFS Systems is a well‑regarded business with strong technical capability, and the transaction is closely aligned with Cardo’s strategic objectives.
“It has been a pleasure to work alongside Liam, Alex Crewe and the wider Cardo team on another important transaction, and to support the business as it continues to invest in complementary specialist capabilities.
“We wish everyone at Cardo Group and EFS Systems every success as they take this next step together.”
The multidisciplinary Knights team advising Cardo was led by corporate partner Emma Borrington, supported by Elizabeth Hill and Edmund Anya in corporate, Sarah Luxmoore in employment, Krystal Gibbins in real estate, Steve Webb in construction and Sarah Cardew in corporate tax. Knights, which has completed nearly 30 deals since its 2018 listing, reported an 8% increase in turnover to £162 million for its 2024/25 financial year and is currently in discussions for a potential acquisition of Moore Barlow LLP.
EFS Systems will continue to operate under its existing leadership, with Robert Hadley remaining as managing director. The Merthyr Tydfil business community has seen other recent activity, including a £3.1 million management buy‑out of steel door manufacturer Design & Supply, on which Knights also advised the vendor.
