MBO completed at Resource

THE chief executive of Resource Services Group has led a management buyout of the company.

Dave Seaton led a team including five members of the group board and several senior managers in buying the equity held by the previous investors in the Leeds-based firm.

Resource Services Group provides and advises on outsourced support services across a range of sectors including policing and justice and education.

Mr Seaton said: “The pressures on public expenditure in both the UK and Ireland and greater private sector involvement in delivering public services present us with very real opportunities to grow the business. We are also strengthening our capabilities in London and the South East where there is a potential to grow volume that we have yet to fully exploit.

“Over the past couple of years the task of the current management has been to complete the integration of the group’s previously acquired companies, enhance the group’s processes and shape the strategic direction of the business.

“This has been achieved and, with a strong balance sheet and good cash position, we are well placed to target the specialist areas of the market where we have clear advantages over our competitors.”

Resource has also announced two major contract wins, providing cleaning services worth £2.5m for 230 Northern Ireland Civil Service premises and the renewal of a £1.5m three-year cleaning contract with Queen’s University Belfast.

The management team was supported by Anglo Irish Bank.