Grease is the word for £1m acquisition
Grease Management (GMG), a Leamington Spa-based business which cleans drains across the UK, has been bought in a £1.11m deal.
Stock market-listed Filta Group has acquired the company which will sit alongside the services it currently provides to commercial kitchens. In particular it will broaden the product offering of Filta’s specialist grease and drain management business, FiltaDrain.
Jason Sayers, chief executive of Filta, said: “The acquisition of GMG is consistent with our strategy of seeking out complementary businesses that strengthen our product offering and expand our customer base.”
Mike Goodbourn, who founded GMG in 1999, will stay with the business as a business development consultant.
Sayers added: “I’m delighted to welcome Mike, an industry veteran who is highly regarded for his knowledge and innovation, to Filta and look forward to working closely with him in the coming months as we grow the business and drive value for the Group’s shareholders.”
GMG makes around 3,000 site visits each year and more than 75% of its revenue is recurring in nature, with work typically being carried out quarterly under scheduled maintenance programmes.
GMG’s customer base, which includes restaurants, supermarkets and airports, is similar to Filta’s.
