Atlas adds 500 staff with major acquisition
Nottingham facilities management and building services firm Atlas Group has bought private equity-backed cleaning and support services firm Tudor Group, based in Manchester, for an undisclosed sum.
Tudor, which operates at more than 250 sites, services a multi-sector client base which includes Transport for Greater Manchester, Savills, Mapp, Interactive Investor and the Principality Stadium in Cardiff. It specialises in office, stadium, accommodation and window cleaning, and also offers building and technical services.
Chris Wisely, Atlas Group managing director, said: “We are very happy to have Tudor join the Atlas family and welcome 500 talented employees. This strengthens our quality cleaning operations across the North West and South West. It also offers us the opportunity to self-deliver more window cleaning and specialist services for our valued client base.”
In its latest available accounts, made up to the end of 2022, Tudor turned over just over £9.4m and made a loss of almost £580,000 – although the company made two acquisitions during the period.
Fabien Caqueret, managing director of Tudor Group, added: “We are delighted to be merging with Atlas, which has a track record of supporting and charging the growth of new businesses in its group. We will benefit from Atlas deepening our commercial offering in key sectors – such as hospitality, education, leisure and the public sector – while we look forward to helping Atlas offer yet more quality services to its existing clients.”
BDO Midland’s M&A business services team advised the shareholders of Manchester-based Tudor Group. The team was led by Satvir Bungar, managing director and head of business services M&A. He was supported by Rebecca Hoyle and Patrick Starrett.
Following a competitive process, this is the second deal led by BDO involving Atlas. In 2022, BDO advised on the sale of Lewis and Graves to Atlas.
Bungar said: “Tudor Group has built up an unrivalled reputation in the professional cleaning and specialist support services sector, marking its footprint across the UK. The sale to Atlas marks an important milestone in the company’s growth journey, providing Atlas with significant infrastructure and expertise to expand its service offering to clients, and we look forward to following the company as it continues to flourish under the stewardship of Atlas.”
Other advisors on the deal were: Stephenson Harwood (legal sell-side); Barnes Roffe (legal buy-side).
