Company history

In early 2005 the founders (Jon Pither and Graham Forrest) developed a strategy which they believed would enable them to become preferred buyers for mature, owner-managed businesses.  They decided to focus this strategy on the acquisition of buildings services and materials businesses based in North East England.

During 2005 and 2006 the founders progressed this strategy by creating four holding companies which acquired four buildings services businesses in preparation for the launch of Northern Bear. (This process is described in more detail in the Admission Document.)

Northern Bear was incorporated in April 2006 and on 30 November 2006 the company was re-registered as a public limited company.

In December 2006 Northern Bear completed the acquisition of Isoler, Roof Truss, Floor Joist, Springs Roofing, Wensley Roofing and Prosafe Consultants and of the holding companies.  On 19 December 2006 Northern Bear plc started dealing ordinary shares on the Alternative Investment Market (AIM) of the London Stock Exchange.  A total of 2,751,133 ordinary shares were issued at an issue price of 88p.

Northern Bear has continued its acquisition strategy by buying MGM, Chirmarn, Hastie and Jennings during 2007.