Commercial contract cleaning provider, Ecocleen, has announced the acquisition of The JPM Group of Companies (JPM), a facilities services company based in Watford, in a deal worth over £5m.
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 1000 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.
Jean-Henri Beukes, CEO of Ecocleen, commented: “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. 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. Ecocleen’s recently appointed COO, Francois Oosthuizen, and CCO Mark McMullen, 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.
Ecocleen plans to synergise the two companies and unite the 2500 employees, which will boost the run-rate entering post-completion to £30m annual turnover.
Jo Bass, Operations Director at JPM, concluded: “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.”
