Lender provides £1m in acquisition funding for facilities manager merger
Ashby-based lender ThinCatshas provided £1m in funding to Birmingham-based Service Response Group for the acquisition of the shares of CDC Facilities Management (CDCfm), based in Stourbridge, and Birmingham’s CPL FM Group (CPL).
Formed 15 years ago, CDCfm installs and maintains cleanrooms and close control environments within a range of market sectors and has a large presence in the facilities management market.
CPL is a leading facilities management company offering integrated facilities management services.
Nick Johnson at Ryecroft Glenton, financial and strategic advisors, introduced the business to Thincats.
Carl Isakovic, managing director, CDCfm, said: “CDCfm already offer a great range of services, but this merger gives us the opportunity to develop and grow in a targeted way, as well as being able to provide a more comprehensive service throughout the whole of the country. ThinCats and Ryecroft Glenton could see our potential from very early in the conversation, and we are very pleased to have finalised the funding at this time.”
Nick Johnson, corporate finance partner, Ryecroft Glenton: said: “The transaction represents an exciting new chapter for CDCfm and CPL, coming together in the newly formed Service Response Group. Under the leadership of Carl and his fellow directors the businesses have a very positive future. Thincats are the perfect partner for this dynamic new group.”
Chris Webb, director, regional business development, ThinCats. added: “We wholly support the merger of these two strong businesses. There are many synergies across the wider group, and the management teams demonstrated a great desire to maximise their potential. We will be following their progress with great interest.”