2 November 2021
Press ReleasesJames Cowper Kreston’s corporate finance team recently provided transaction support to Ecoserv Group in its £3.5 million purchase of Cooltech Environmental Engineering Ltd. This is the first acquisition since the rebrand of Ecoserv, formerly Ecocleen, after announcing plans to become a multi-service facilities management business.
Based in Slough, Cooltech provides mechanical, electrical, HVAC and water hygiene services to a wide range of premises and works with many of the UK’s leading property managing agents. Since 1992, the company has been recognised as one of the leading maintenance partners within the facilities management market. With a team of 40, including a vast network of on-site and mobile engineers, Cooltech supports 100 customer locations in and around the M25 in the commercial residential, office, retail and hospitality space.
Jean-Henri Beukes, CEO of Ecoserv Group commented: “We are committed to broadening both our FM capabilities and geographic reach through strategic acquisitions and partnerships or by investing in our existing infrastructure. This latest deal will take our annualised turnover to over £40 million by year-end and represents a key part of our transformation into a multi-discipline FM company. The business has grown up in the past 18 months and we now have the management team in place to take us forward.”
Led by Brad McAvoy, the Corporate Finance team at James Cowper Kreston provided financial and tax due diligence for Ecoserv. Funding for the acquisition was provided by BOOST&Co, a specialist lending provider for high growth SMEs. Ecoserv was also advised by AS Advisory and Owen White Solicitors.
Brad McAvoy, Partner at James Cowper Kreston Corporate Finance, commented “We were delighted to work with Jean-Henri and the Ecoserv team on another successful acquisition. We look forward to working with Ecoserv again as they pursue their strategy of becoming a diversified facilities management business.”
