EnServe up for grabs for £50m

REMAINING assets of Macclesfield-based outsourcer EnServe have been put up for auction with a guide price of £50m.

The sell-off comes five years after the company was acquired by buyout specialist Cinven.

The company sells services to untility and energy companies, but The Sunday Times has reported it is likely to be sold later this year after Cinven hired DC Advisory to assess its “strategic options”.

Five years ago Cinven’s spent £250m on the takeover of Spice, a FTSE 250 company that fell on hard times, before rebranding it EnServe, and selling off different elements of the business to a variety of buyers.

It is believed a deal for EnServe would be worth just £50m.

EnServe made a profit of £2.7m last year, down from £4.3m the year before.