Firm doubles in size with acquisition of maintenance business
Doncaster-based surfacing, engineering and external environment maintenance business NMC Group has been acquired by GRITIT, a portfolio company of Total Capital Partners.
The deal for NMC doubles the size of the GRITIT Group and creates a £50m market-leading provider of external infrastructure compliance services.
It is the third acquisition by GRITIT since Total Capital Partners invested in November 2018. Mark Buttler and Paul Brown from Total Capital Partners led the deal process on behalf of GRITIT. Investec Bank provided debt funding to support the transaction.
GRITIT, which has offices in Leeds and York, is a winter services compliance and grounds maintenance company delivering winter gritting, snow clearance, grounds maintenance and civil engineering solutions to commercial properties across the UK.
Including gritting and snow clearance, GRITIT delivers mission-critical compliance solutions for commercial properties. It is acknowledged as being at the forefront of technological development in the industry, having developed high-tech deployment software that uses real-time meteorological and algorithmic data to automatically mobilise operatives and workforces on a demand-led basis, resulting in over 99% service levels.
NMC Group’s service lines include carpark surfacing, drainage, civil engineering, surveying, line marking and specialist coatings, wish customers spread across numerous sectors including: retail, industrial, commercial, healthcare and education.
Like GRITIT, NMC provides nationwide service coverage, operating from three regional depots in Doncaster, Stevenage and Edinburgh, complementing GRITIT’s existing regional presence. Both companies operate highly flexible, agile and asset light operating models. The complementary customer bases present a compelling opportunity for cross-selling across the rapidly expanding Group.
Jason Petsch, CEO of GRITIT, commented: “The acquisition of NMC is a fantastic opportunity and a significant milestone in our clearly focussed strategy which is: to create a Group offering clients end-to-end, integrated and technology-enabled solutions to their external infrastructure compliance and maintenance needs. The NMC team, ably led by Haroon Rashid, is excellent – highly professional, ambitious and energised. GRITIT is excited to be working with them to further drive the growth of the business and we look forward to welcoming our new colleagues.”
Mark Buttler, partner at Total Capital Partners said: “The acquisition of NMC is a game-changer for GRITIT, both in terms of scale and service offering. GRITIT and NMC have each demonstrated impressive growth in recent years. Putting the two together is transformational and creates a genuinely new market-leader. We are very proud of what the team at GRITIT has achieved in such a short period of time and we look forward to continuing the journey with them and the NMC team.”
NMC was advise don the deal by Richard Goldsack and James Croxen at Clearwater International (Leeds), with Paul Trudgill from Keebles offering legal advice and BHP Tax advice. GRITIT was advised by KPMG London, with legal advice from John Hamer, Walker Morris (Leeds).