Expanding Horizons: Sescom’s Strategic Acquisition of Diamond Air Conditioning Ltd.
We’re thrilled to share insights from Tomasz Szatkowski, Sescom’s M&A Director, on our latest strategic milestone — the acquisition of Diamond Air Conditioning Ltd., a Scotland-based HVAC specialist with a strong foothold in the retail sector. This move reinforces Sescom’s commitment to growth in the UK market, building on the successful integration of PCB Technical Solutions Ltd. in 2022.
In this interview, Tomasz sheds light on the acquisition process, the synergies between our companies, and the roadmap ahead.
Congratulations on the latest acquisition, which certainly required significant effort. How did the process unfold?
As always, it was a team effort. Many colleagues worked diligently across different areas for several weeks to bring this transaction to fruition. Compared to the PCB Technical Solutions Ltd. acquisition, this process was smoother thanks to our accumulated experience — though every deal has its unique challenges.
Who was involved in the process, and what roles did they play?
M&A transactions involve two core parties — the buyer and the seller — with success hinging on their alignment. External advisors, including lawyers, financiers, and tax specialists, provide critical support. The financing bank and its legal team also play a key role. Altogether, it’s a collaborative effort to reach a consensus.
On our side, PCB Technical Solutions Ltd. Directors — primarily Sandra, along with John and Andy — were instrumental. From Sescom, I worked closely with Magda Budnik and Marek Tymecki. Maciek Halbryt handled IT due diligence, while Paweł Trynka prepared legal documentation. Our partners at Enterprise Investors also contributed valuable insights.
What motivated the choice of Diamond Air Conditioning Ltd.?
Diamond stood out due to their long-term partnership with H&M — a testament to their expertise. Their location in Scotland also created strong synergies with PCB Technical Solutions Ltd.’s operations. After meeting the owners, Neil and Brian, we were confident they shared our vision for growth in the UK.
What can you share about Diamond’s team and operations?
Diamond is a compact, skilled team of around a dozen, mostly technicians. Neil and Brian lead the company, supported by Lynn (Service Department Head) and Gary (Installation Director). Their revenue is evenly split between installations and services. While they serve diverse clients, their retail expertise positions them well for expansion in this sector.
What synergies will facilitate a smooth integration?
Diamond and PCB Technical Solutions Ltd. operate in the same industry, share clients, and have complementary experiences. PCB’s prior integration with Sescom provides a blueprint for this transition. Culturally, both teams align well—though we may need an extra moment to adjust to the Scottish accent!
How long did the acquisition process take?
Initial discussions began in November, followed by a swift visit to Glasgow and a letter of intent. Due diligence and agreements were finalized in early 2024, with the bulk of work completed by March — totaling five months from start to finish.
What are Sescom’s ambitions for Diamond and PCB Technical Solutions Ltd.?
Aligned with our Wise Futurist 2030 strategy, we aim to become the UK’s leading retail HVAC provider. PCB Technical Solutions Ltd. will serve as the UK hub, driving local market growth and supporting our international expansion.
How will integration proceed?
Integration has already begun, with high-level plans approved by the Supervisory Board. PCB Technical Solutions Ltd. will take an active role in shaping the process, while our finance and IT teams ensure a seamless transition.
What does this acquisition mean to you personally?
This work is deeply fulfilling. Celebrating a decade at Sescom, I’m proud of our Gdańsk team’s spirit — even from afar. The Diamond acquisition validates our direction since the PCB transaction, and I’m excited for what’s next.
With Diamond Air Conditioning Ltd. now part of the Sescom Group, we’re poised to strengthen our UK presence and deliver even greater value to retail clients. Stay tuned for more updates as we embark on this next chapter!
