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Posted by: electime 2nd September 2026
Paul Evans and Emre Yilmaz
Private investor Emre Yilmaz has acquired PASSfm, an established electrical contractor based in Newton Aycliffe, for an undisclosed sum.
The acquisition sees Yilmaz take over the business from owner Paul Evans, who is retiring after building PASSfm into an established contractor with a strong customer base and experienced team.
Evans said finding the right successor was important to ensure continuity for both employees and customers, with all existing jobs remaining in place as part of the deal.
Yilmaz, who specialises in acquiring and scaling owner-managed businesses across the trades, property services, compliance businesses, HVAC, renewables and manufacturing sectors, said PASSfm represented a strong strategic fit with his growing portfolio.
“PASSfm is exactly the type of business we look for. It has a compelling reputation, an experienced team, established customers and a solid foundation from which we can grow,” he said.
“Paul has built a good business and, with his decision to retire, it was important that we protected what he had created while giving PASSfm the opportunity to enter its next phase.
“Our immediate focus is on retaining the existing team, supporting customers, and investing in the business. At the same time, PASSfm will benefit from being part of Ferro Property Management, our wider group of complementary electrical, energy and property services businesses.
“There are clear opportunities to share expertise and resources, cross-sell services and broaden the solutions we can offer customers, while allowing each business to retain the people, relationships and expertise that have made it successful.”
The acquisition further strengthens Yilmaz’s presence in the North East, following his previous acquisition of Harvey Electrical Services and LED&Power, and forms part of his strategy to build on his group of complementary owner-managed businesses across the region.
PASSfm will continue to operate under its existing name, with the immediate priority being a smooth transition and continuity for customers and employees, alongside opportunities for future organic growth and further investment.
Evans said: “After deciding it was the right time for me to retire, I wanted to make sure PASSfm was going to the right person. I wasn’t simply looking for someone to buy the business, I wanted someone who understood the sector, valued the team, and had the ambition and resources to take the company forward.
“Emre’s approach gave me confidence that PASSfm would be in safe hands. The retention of the staff and existing jobs was particularly important to me, and the business has an incredibly positive next chapter ahead.”
The deal comes amid continued investment and consolidation across the UK electrical and property services sectors, driven by skills shortages, infrastructure investment, and the transition towards more energy-efficient systems.
For Yilmaz, PASSfm represents another step towards further developing Ferro Facilities Management Group, with further growth expected through both organic expansion and future acquisitions.
