Ecoserv Group has completed the purchase of Slough-based maintenance specialist Cooltech Environmental Engineering in a £3.5 million deal.
“Cooltech has proven maintenance expertise that complements our existing cleaning operation, so this development represents a huge opportunity and a significant step-change for the business,” explains Francois Oosthuizen, COO of Ecoserv Group.
Cooltech provides mechanical, electrical, HVAC, and water hygiene services to a wide range of premises and works with many of the UK’s leading property managing agents. Launched in 1992, the company has a yearly turnover of £7.5 million.
Jean-Henri Beukes, CEO of Ecoserv Group commented: “This latest deal will take our annualised turnover to over £40 million by year end and represents a key part of our transformation into a multi-discipline facilities management company. The business has grown up in the past 18 months and we now have the management team in place to take us forward.”
Ecoserv has secured funding from BOOST&Co, a UK-based independent asset manager, specialising in growth-lending solutions for high-growth SMEs, to complete the Cooltech acquisition. The company was also advised and supported throughout the process by AS Advisory, James Cowper Kreston and Owen White Solicitors.