Health and safety specialist snapped up by private equity backed firm
A YORKSHIRE health and safety services provider has been acquired by a private equity backed business.
Multi-disciplinary provider of compliance and certification services Alcumus, which is backed by Sovereign Capital, has acquired Safety Management & Monitory Services (SM&MS).
Based in Huddersfield, SM&MS offers a range of services to assist clients with their compliance requirements, such as fire safety, asbestos management and health and safety consultancy.
Since being founded in 1994, the company, run by Sue and Phil Morris, has supported more than 1,600 companies across 60,000 projects. SM&MS has a particular specialism in the property management sector and has delivered over 10,000 risk assessments in this sector during 2014.
Beatriz Shorrock, SM&MS operations director, and Richard Edwards, SM&MS business development director, will join the Alcumus leadership team.
Martin Smith, CEO of Aylesbury-based Alcumus said: “We have known SM&MS for a number of years and are delighted to have acquired a business with such a strong reputation for quality and delivery of critical risk management services to the commercial property sector. The addition of SM&MS represents a significant development in Alcumus’ Governance, Risk & Compliance and Accredited Inspection strategy, and will allow us to offer a truly holistic solution to address clients’ property-related business risks and legal obligations.”
Dyson Bogg, director at Sovereign, added: “Alcumus continues to see strong demand for its compliance and certification services and saw EBITDA increase by 24% in 2013 as a result of organic growth alone. SM&MS’s property specialism complements Alcumus’ existing service offering and will enable Alcumus to offer its clients an even more wide-ranging suite of products and services.”
Ben Peacock, director at Park Place Corporate Finance, advisors to the vendors, said: “Sue and Phil Morris have built a business that is renowned for the high quality service its consultants provide. Due to its impressive financial track record and loyal customer base, there was significant interest from a number of parties. However, it was clear from an early stage that Alcumus was an ideal home for the business and Sovereign worked hard to deliver a transaction that worked for all of SM&MS’s stakeholders.”
