LDC-backed Pace Group expands into South West following milestone acquisitions

LDC-backed Pace Group has made three further acquisitions, bringing its total since LDC’s investment to 20 and establishing the lift maintenance and repair specialist’s first base in the South West.

The West Midlands-headquartered business, which maintains and repairs elevators, service lifts and stairlifts to improve their safety, performance and lifespan, has brought Devon-based Ideal Lifts Services Limited, Kent-based Elevators Ltd and Cheshire-based City Lift Services and into the Group.

The acquisition of Ideal Lifts Services, headquartered in Okehampton, provides Pace Group with a presence in the South West of England for the first time, further expanding its footprint across the UK. Together, the three acquisitions add 2,000 units to Pace Group’s portfolio bringing the total to c. 15,000, and 30 staff across office and field engineering roles, bringing total headcount to c. 240.

LDC backed Pace Group’s management team, led by Directors Scott Haywood and Lukas Schlenker, in July 2024. Since then, the Group has made 20 complementary acquisitions and grown revenue from c.£19m to c.£40m.

Lukas Schlenker, Director of Pace Group, said: “Bringing Ideal Lifts Services, Elevators Ltd and City Lift Services into the Pace family marks an important milestone for us. In just over two years, we’ve expanded rapidly across the UK, while preserving the service, quality and compliance culture that continues to underpin our success.”