Gwent-based recovery firm Caldicot Group has acquired Overbrook Recovery in a move which will see the company expand its portfolio of depots to four regional centres.

The deal see Caldicot Group take over Gloucestershire-based Recovery Group’s 30-strong staff and two depots, including an MOT and vehicle recovery centre in Hakwell in the Forest of Dean.

The move increases the Caldicot Group’s turnover to more than £8m and its workforce to over 100 employees. The acquisition includes Recovery Group’s fleet of 30 vehicles which will join Caldicot’s fleet of over 60 recovery vehicles.

Group managing director Gavin Edwards (pictured)said the acquisition was crucial to the company’s expansion plans. The group includes Caldicot Recovery, Caldicot Maintenance, and Caldicot Recovery Systems.

He said: “We are delighted to have negotiated the purchase of one of Gloucestershire’s oldest and most respected recovery operations and are looking forward to building upon their long-standing success in the region.

“As a company we have seen record growth in our customer base as we support more than 500 businesses with their recovery needs as well as being an approved Highways England partner for major road infrastructure projects. It was therefore important that we expanded our operating territory to better serve our customers and so that we can help more businesses.

“With depots in Walsall, Gloucester, the Forest of Dean and Monmouthshire the Caldicot Group is one of the UK’s fastest growing recovery agencies. Our strategic goal is to continue this expansion and support more companies with their recovery needs.”