‘Perfect match able to grow’

Nov 24 2007 by Graeme King, The Journal

AMBITIOUS contractor Whitehart Group has sealed a deal to buy out growing Hartlepool electrical business Powerstream.

The Stockton company, which has four divisions, has acquired Powerstream for an undisclosed sum with financial backing from Alliance & Leicester Commercial Bank.

Whitehart intends building on Powerstream’s success by retaining the current team and integrating the company into its group structure.

Managing director Peter Fitzpatrick said Powerstream’s focus on electrical contracts and small works made it a perfect match for his firm.

He said: "We have secured a number of new contracts and will be looking to develop the business further over the next few years.

"Powerstream is a strong, established business with a good reputation and I am delighted to be investing in its future."

Powerstream, formed in 1993, has grown from a small electrical contracting company into a substantial business which employs 20 people – and Whitehart wants to see that figure grow with the business.

Powerstream’s Steven Rayment will work closely with the Whitehart team to share his knowledge of the industry and continue to play a key role in running the business.

Relationship manager at Alliance & Leicester Commercial Bank Mark Dolphin said: "Peter’s extensive experience in the industry, combined with the knowledge and expertise of the existing team at Powerstream, will help to develop and expand the business, furthering its potential and securing the success of the business for many years to come."