Medway Heating fires up new division after joining EverGrowth Group

Medway Heating has become the first business to join EverGrowth Group’s Hard Services division, in a deal advised by KBS Corporate.

Established in 1974, Medway Heating specialises in the supply, installation, servicing, repair and maintenance of HVAC and plumbing systems for commercial, industrial and domestic clients.

The family-run company, headed by Paul Craven and Gareth Owen, works across a diverse range of sectors including healthcare, education, retail and leisure.

In a deal advised by George Barnes, Associate Corporate Director at KBS Corporate, Medway Heating has joined EverGrowth, a founder-led B2B essential services group.

Backed by FourLeaf Capital, with senior debt from OakNorth Bank, EverGrowth is building four divisions: Soft Services, Hard Services, Environmental Services and Critical Services, with the ambition of becoming a nationwide total facilities management provider. 

In becoming the first company within the Hard Services division, the Medway name, engineers and office team behind the business, and the customer relationships built up over five decades, will continue as they are. EverGrowth’s role is to stand behind them, with group support in finance, people, technology, and health and safety.

“Our customers and engineers have always come first at Medway. That’s what mattered most to us when we chose EverGrowth,” said Paul Craven, Managing Director of Medway Heating.

Chris West, EverGrowth’s Co-Founder and Chief Executive, commented: “Medway’s customers rely on its engineers to keep their buildings heated and safe. Our job now is to support that team.”

KBS Corporate’s George Barnes thanked colleague Fahad Latif (Transaction Support Executive) and K3 Tax Advisory for their work in bringing the deal to a successful conclusion.

“Congratulations to Paul and Gareth at Medway Heating,” said George.

“With five decades of customer relationships, a skilled engineering team and a reputation built on reliability across some of the most demanding sectors in the UK, Medway is exactly the kind of platform business EverGrowth’s Hard Services division needs: proven, trusted and with real capacity to grow.

“The foundations are in place to build something significant, and Medway will be all the stronger for being part of it.

“It was also great to work with James Cowell at Freeths, who provided legal advice to the shareholders on the transaction.”