gretel
01 Jun 2018
Bouncing nicely now Nice bounce since Wednesday. I just get the feeling that a seller may have been cleared.The AGM trading update will be on Monday 18th June - not long now.The incredible lightning storms earlier this week - including one which took out Stansted Airport for a while - may just have perked some additional interest for PTSG's services.
gretel
20 May 2018
Another UK Governemnt contract win PTSG seem to have now become the Government's preferred provider, which is rather useful.Here's yet another contract win, this time for lightning protection and fall arrest testing services at the Land Registry's 14 sites around the country:[link] a win to provide electrical testing services at Burnley General Hospital:[link]
gretel
16 May 2018
More contract wins Looks like a large countrywide contract win for Centrica:[link] cooking with gas for CentricaPremier Technical Services Group PLC (PTSG) has secured a multi-disciplinary contract with the British gas and electricity supplier Centrica.Multi-disciplinary teams from PTSG will be deployed across the UK to carry out lightning protection and fall arrest testing, providing the vital certificates that demonstrate that Centrica sites are safe and compliant for staff and visitors.Centrica is the largest supplier of gas to domestic customers in the UK and one of the country’s largest electricity suppliers. This nationwide contract will see PTSG operatives travelling to 115 Centrica sites to provide these vital specialist services...."Another decent-looking one for Leeds Council:[link] one is described as "a significant Access and Safety contract at Mailbox Birmingham":[link] another at Syon Park:[link]
wineberry
15 May 2018
Re: encouraging news I hope they have enough 'skilled engineers' to service their new contrats
gretel
15 May 2018
Featured in Amati VCT newsletter Amati are large investors in PTSG, and their quarterly newsletter just out yesterday features PTSG nicely:"Premier Technical Services Group (“PTSG”
- PTSG is the UK’s leading provider of a range of building maintenance and safety services. These include tall building access and fall arrest equipment, lightning protection and electrical testing, steeplejack and rope access services, and fire solutions. The group employs more than 600 people across 17 UK sites, and services more than 150,000 buildings for over 17,000 customers. Despite more than twenty acquisitions over the last ten years, PTSG has no more than a 9% market share across its divisional activities, which illustrates both how fragmented its end markets are, and also the potential for further consolidation. their nature, PTSG’s services are mainly non-discretionary and recurring, often linked to annual insurance reviews or building inspections, and involve skilled engineers so that margins are attractive.Alongside its acquisitions, PTSG is achieving solid organic growth with the potential to enhance this through cross-selling. At present, 90% of clients take only one service line. Following the Grenfell tragedy, there is significant demand for the sprinkler systems and dry risers supplied by the fire solutions division. PTSG is run by a very experienced management team, who previously built and sold a similar services group to Interserve plc for £120 million in 2006. The company is held in the TB Amati Smaller Companies Fund, the Amati AIM VCT and the Amati AIM IHT Service."
gretel
13 May 2018
Two encouraging bits of news Interesting RNS on Friday, with the Company Secretary sheltering some shares from tax in his ISA. Now why would he do that I wonder....[link] another impressive-sounding contract win:"PTSG WINS GOLD CONTRACT WITH DECATHLONPremier Technical Services Group PLC’s (PTSG) Electrical Services division has received an order to carry out a number of specialist services at Decathlon superstores across the UK.Skilled engineers will be deployed to Decathlon’s 26 UK stores to carry out fixed wire testing (FWT), portable appliance testing (PAT) and lightning protection services to ensure that its employees and customers, as well as the stores themselves, are protected from electrical faults and lightning strikes. This will be no mean feat, as the average size of Decathlon superstores is around 4,000m².Decathlon, founded in France, is the largest sporting goods retailer in the world. The company currently has over 1,100 stores across 38 countries, with its first UK store opening in 1999.PTSG has a large portfolio of retail clients, including recent contract wins with Tesco, Morrisons and DFS. In 2016, the Group received the Partners in Retail award at PFM’s partnership awards for its outstanding work to provide fall arrest services at M&S stores across the UK.[link]
gretel
08 May 2018
Two more contract annoucnements [link] keeps London hospitals operating with PAT servicesPremier Technical Services Group PLC (PTSG) has completed essential Portable Appliance Testing (PAT) at several London hospitals.Work was carried out on behalf of CBRE at St Mary’s Hospital, Charring Cross Hospital and Hammersmith Hospital, which are all part of the Imperial College Healthcare NHS Trust, and Royal Berkshire Hospital and Chelsea & Westminster Hospital.The sites required rigorous assessment followed by detailed planning in order to manage the logistical challenges when working on NHS sites and provide consistency, continuity and quality of testing. A Contract Manager was appointed for the duration of the contract and the same PAT team was also maintained throughout the contract, with a lead engineer on site providing a point of liaison for the client.Work at these hospitals will continue and a review of this contract will allow continued improvement of our work at these sites.etc"And:[link] safely at Manchester AirportPremier Technical Services Group PLC (PTSG) has been awarded a new contract to deliver works for one of the UK’s biggest and busiest airports.The Group will carry out investigative works on a cradle used for maintenance works on the skylink walkways between the terminals and rail station at Manchester Airport. The work will be undertaken on behalf of the airport’s FM provider, Mitie.PTSG is carrying out a range of specialist testing services for Manchester Airport.etc"
frusset
04 May 2018
Re: Notes from presentation Thanks for showing your notes. Should "Lighting installation" be "Lightning installations"? It follows "- very dominant position in lightning protection".
gretel
03 May 2018
Notes from presentation A couple of months ago I went to a PTSG presentation. Anyway, I came across the notes again, so here's a summary: - current turnover run-rate is £60m (up from 2017's £52.9m). The target is £100m in the next 2-3 years - conditions for compliance services post-Grenfell are the best Teasdale has seen for 30 years. Compliance service jobs are not a choice, they're recession-proof, and they're high-margin work - "unprecedented" demand at present - and it's coming from regulatory drivers (fire, sprinklers etc) - no more than 5% of customers take more than 1 service at present, so there's a huge cross-selling opportunity - each £1 of compliance work wins generates another £1 of additional repair/compliance work - very dominant position in lightning protection. Lighting installation installations can make between £10k-£20k (more than I'd thought - the price for the sprinkler systems acquisition was agreed in Feb'17, but only completed in Sept'17 (which explains why it was so cheap). This business has doubled its order book since acquisition - renewals are 85%-90% of revenues every year - no one client has over £1m exposure, and the small Carillion debt is the only bad dent PTSG have ever had. Interserve's debt is only £200k - PTSG have just won a £1.7m contract from Hackney Council for sprinkler systems in 95 tower blocks - there are several thousand 3 and 5 year contracts, so very high recurring income - PTSG's Clarity software, entirely developed in-house, could well be licensed out (another Facilities Management company with 56,000 employees thought it was terrific) In particular, the CEO stated that PTSG are working on around 12 potential acquisitions, costing from £1m-£35m.
gretel
01 May 2018
New nationwide contract for prisons Yet another new governmental contract, at prisons across the country:[link] work in the UK’s prisonsPremier Technical Services Group (PTSG) is carrying out essential electrical services at prison sites across the UK for Gov Facility Services Limited (GFSL).The contract will see engineers from PTSG’s Electrical Services division carrying out PAT testing and testing, maintenance and installation of fixed wire systems and residual current devices (RCD).Her Majesty’s Prisons and Probation Service (HMPPS) runs 109 of the 123 prisons in England and Wales. In 2018, the Ministry of Justice (MoJ) created new government-owned facilities management company GFSL to deliver FM work at 52 prisons across the UK. This work includes reactive maintenance and planned building repair work. FM is a critical service for HMPPS and there is an ongoing need for a continuing service.etc"
gretel
30 Apr 2018
Another great government contract win [link] the Department for Transport estate movingPremier Technical Services Group PLC (PTSG) is delivering electrical servicing across the UK for the Department for Transport (DfT).The contract sees engineers from PTSG’s Electrical Services division carrying out work at the broad range of DfT buildings and facilities, which comprises everything from lighthouses to driving test centres. PTSG’s experts are conducting fixed wire testing and Portable Appliance Testing (PAT) at the DfT’s buildings up and down the country.Fixed Wire testing (also known as periodic testing) protects buildings and employees from the two main electrical risks – fire and electrical shock."And also:[link] test in ManchesterPremier Technical Services Group PLC (PTSG)’s expertise will be called on by construction company BAM at Manchester’s world class statement building No 1 Spinningfields.PTSG will provide engineers to work alongside team Allianz, the engineering insurance provider to test and certify the prestigious site’s building maintenance units (BMUs), which are used to assist in the maintenance of the towering structure.etc"
gretel
25 Apr 2018
News: PTSG 5 year contract for the DWP "Premier Technical Services Group PLC (PTSG) is delivering a five-year contract across the UK for the Department for Work and Pensions (DwP).All four divisions of PTSG are working on the contract covering the safety of buildings in the DwP’s estate. Specialist engineers from the Group’s Access and Safety, Electrical Services, Building Access Specialists and Fire Solutions divisions are ensuring building and electrical safety and that operatives at the buildings can work safely. The contract is being delivered on behalf of FM service provider Interserve.The DwP estate comprises more than 700 buildings throughout the UK. PTSG’s work over the five-year contract will ensure that the DwP can provide safe, effective, compliant and accessible spaces across its estate for their employees and customers.Interserve PLC was awarded a five-year facilities management contract by the DwP in October 2017. The deal provides mechanical, electrical and building maintenance.PTSG’s divisions deliver consistently high-quality products and services to specialist markets that can be safely relied on at all times"[link] Note: Interserve PLC was awarded the five-year facilities management contract by the DwP in October 2017 and was worth £227m. Interserve will provide the DWP estate with mechanical, electrical and building maintenance. The company will also provide cleaning, catering, waste disposal, removal and secure destruction of confidential waste services to over 700 buildings throughout the UK, covering over 1.3 million square metres of space.[link]
frusset
23 Apr 2018
Re: Text of both Telegraph and SCSW tips Thanks for the link, gretel. I particularly like the story in the Share Watch piece, of Teasdale (PTSG's CEO) founding TASS, then Foley (PTSG's Chairman) growing it, Interserve buying it, then PTSG getting TASS for "nothing".
gretel
23 Apr 2018
Loads of contract news flow Worth noting how much of this is essential, non-discretionary work, and also how much is for blue chips who can be relied upon to pay up for and repeat such work:Working nationwide on essential maintenance for the Nationwide:[link] essential maintenance at Scottish Power's HQ:[link] equipment testing for ITV:[link] appointed by Interserve for work at various Ministry of Justice sites around the country:[link] for safety services at St James's Market in London:[link] at the Four Seasons Hotel in Tower Hill:[link] at the Dolphin Shopping Centre in Poole:[link]
gretel
17 Apr 2018
Text of both Telegraph and SCSW tips PTSG have rather generously made available to everyone both the Telegraph tip and the ENTIRE issue of SCSW with PTSG's tip (it also includes tips for SCH and KAPE which I also own):[link]
