Ecocleen, a leading commercial contract cleaning provider, has announced the acquisition of The JPM Group of Companies Ltd (JPM), a facilities services company based in Watford, in a deal worth over £5 million.
The successful buyout will enable the group to expand its presence within both established and new sectors – most notably the film industry – whilst continuing to grow its nationwide network.
Founded in 1987, JPM works across a number of locations within the M25 corridor and surrounding counties. As a family-run business, the company has established a number of long-standing clients and employs over 1,000 people. JPM is well established and has a stable operational team. Ecocleen will continue to carry the business’ legacy and embrace its heritage moving forward, adding value and expertise to its business and existing infrastructure.
“We are one of the fastest-growing commercial cleaning companies in the UK, with a multi-award-winning business model which has allowed us to earn the trust and respect of thousands of customers across the country. This acquisition demonstrates a great step forward in our growth ambitions to increase geographical reach and introduce new service offerings,” commented Jean-Henri Beukes, CEO of Ecocleen. “The JPM Group shares our family and company values, and offers a significant opportunity to grow into new sectors and consolidate on our existing verticals.”
To ensure a smooth transition, both management teams will come together to collaborate in growing Ecocleen’s geographical and industry spread. The company’s recently appointed Chief Operating Officer, Francois Oosthuizen, and Mark McMullen, Chief Commercial Officer, have both been fundamental in supporting the integration plan between the organisations.
During this time, Ecocleen received support from Graeme Jones at AS Advisory, who worked closely with the executive team to secure funding for the refinancing of some existing facilities and support for the acquisition of JPM with ThinCats, a leading alternative finance provider to mid-sized SMEs. In addition, James Cowper Kreston supported the Ecocleen team to conduct the Financial Due Diligence, while Thames Valley solicitors Owen White represented in finalising the Share Purchase Agreement and supplying legal expertise.
Speaking on the recent acquisition, Stuart Thompson, Director, Regional Business Development at ThinCats said: “These two businesses are well placed to complement the services that each offers, and Jean-Henri and the team will no doubt make the most of the opportunities that the union brings. I am sure that there are very exciting developments in store, and we look forward to seeing them play out.”
Brad McAvoy, Corporate Finance Director at James Cowper Kreston added: “It was a pleasure working with Jean-Henri and the Ecocleen team on another successful acquisition. Ecocleen is continuing to pursue its acquisition growth strategy which we are thrilled to be a part of. JPM’s established customer base and sector focus will be very complementary for Ecocleen.”
Looking into the future, Ecocleen plans to synergise the two companies and unite the 2,500 employees, which will boost the run-rate entering post-completion to £30 million annual turnover.
“The directors of The JPM group would like to take this opportunity to thank our staff for their loyal service and dedication, and to say thank you to our many clients who have allowed us to serve them during this time. We are excited for the future as we believe that Ecocleen is the best company that could have acquired us given its similar ethos, culture and family values. We wish them all the very best for the future,” concluded Jo Bass, Operations Director at JPM.