Private Investor Acquires North East Electrical Firm in Swift Off-Market Deal

  Posted by: electime      5th May 2026

Ian Austwick and Emre Yilmaz

LED & Power Ltd, established in 2019 in Middlesbrough by co-owners Ian Austick and Sam Garbutt, has been acquired by private investor Emre Yilmaz for an undisclosed sum.

The deal originated after the directors became aware of Mr Yilmaz’s previous acquisition of Harvey Electrical Services last summer and made contact via LinkedIn. After examining the company’s financial records and negotiating terms, the deal finalised just two weeks after the initial contact.

This acquisition highlights the increasing occurrence of off-market transactions, where business owners and buyers connect directly due to shared values, a focus on continuity, and common goals for future growth.

Mr Yilmaz, who specialises in acquiring and scaling owner-managed businesses across the trades, property services, renewables and manufacturing sectors, said the pace of the deal was made possible by clear communication, strong preparation and a shared desire to secure the right long-term future for the business.

“Good businesses with strong fundamentals, loyal teams and a solid reputation will always attract interest,” he said. “When the right opportunity comes along, being able to move decisively creates a better outcome for everyone involved.

“My focus is on quality businesses in sectors that underpin homes, buildings, and infrastructure. That includes electrical, HVAC, roofing, renewables, and other specialist property services where there is long-term demand and real scope for growth.

“My strategy is to grow businesses with their existing employees, build on the strong foundations already in place, and continue the legacy created by the owner. For many business owners, this factor is just as important as the deal itself.

“An exit is not only a financial decision, but also a personal one. Owners want to know that their staff will be looked after, their customers will continue to receive a high standard of service, and the business they have worked hard to build will keep moving forward in the right way. That is a key part of how I approach acquisitions.”

The deal strengthens Mr Yilmaz’s presence in the North East and supports his wider strategy of building a complementary group of businesses across electrical, energy, mechanical and property-related services. His focus remains on long-term growth, operational improvement and scaling high-quality businesses while preserving the strengths that made them successful in the first place.

From a wider market perspective, the transaction highlights ongoing consolidation within the UK’s electrical and energy services sector, driven by skills shortages, increasing infrastructure demand, and the shift towards integrated solutions including renewables and energy efficiency.

LED & Power co-founder Ian Austick said the clarity and pace of the process were instrumental in achieving a successful outcome.

“Making that initial connection via LinkedIn led to a highly efficient and straightforward transaction,” he said. “The process was transparent throughout, which meant we were able to move quickly once terms were agreed.

“Emre’s vision for the business was clear from the outset – to build on what we’ve created, protect the values of the company and support its next phase of growth.”

LED & Power will continue operating under its existing brand, with plans to explore new growth opportunities as part of the wider group.

The deal also underlines the North East’s continued appeal to investors, with a strong pipeline of skilled trades businesses offering scalability and well-established client bases.