Viva Las Vegas as Xeros spends $1m on US cleaning firm

Rotherham cleaning technology group Xeros has acquired a specialist US business in a deal worth $1m.

The US cleaning business MarKen specialises in personal protection equipment cleaning, marking an entry into the market for Xeros.

An initial $750,000 consideration will be topped up with $250,000 upon the business meeting performance targets.

Xeros, which develops polymer technologies, has acquired the Las Vegas business, which in the year to 30 April, reported revenues of US$686,000, generating an EBITDA loss of US$72,000.

Management believe that as a result of Xeros’ ownership the MarKen business will be profitable going forwards.

It serves some 25 municipal and military fire departments across the US and also uses Xeros’ polymer technologies.

Mark Nichols, chief executive of the Rotherham company, said: “This acquisition provides Xeros with a platform from which to accelerate significantly our penetration of the high-performance workwear market.

“With more than 58,000 fire stations across the USA alone, this is a substantial market where the benefits of our unique cleaning and decontamination solutions can create significant value.

“The profound expertise we are acquiring and the increased market access we now have will enable us to grow this business very rapidly.”

The company recently expanded with a partner agreement Down Under as it looks to expand in Australia.