Acquisitions sought to boost growth
22 August 2019
Commercial contract cleaning provider Ecocleen is targeting a number of acquisitions over the next 12 months to accelerate its expansion within the UK.
The company is eyeing opportunities in London, the South-East, South-West and North-West to enhance its nationwide network and support robust organic growth.
“We are looking to speed-up our expansion plans through a number of strategic acquisitions in key regions,” Jean-Henri Beukes, managing director of Ecocleen, said. “We are looking for likeminded commercial cleaning businesses that possess particular strength in the education, primary care, manufacturing and office sectors that will strengthen our existing operation and enable us to create new franchise areas. Once integrated within the nationwide network, we will seek suitable investors both in the UK and internationally who can add value to our business.”
Ecocleen is described as one of the UK’s fastest-growing franchised cleaning businesses, with growth of more than 75 per cent since a management buy-out in 2017. The company is expected to reach an annualised turnover of £14 million in 2019 and is targeting revenues of £20 million by the end of 2020. Future expansion is expected to be achieved by a combination of organic growth and strategic acquisition. This is also being supported by the creation of a central business development team to secure new cleaning contracts with an expanding range of private and public sector organisations.
“We are in the process of identifying suitable regional companies that meet our criteria in terms of culture, capabilities and profitability. They will typically have a turnover of around £5 million, but we are considering businesses with a turnover of £500,000 and upwards if particularly complementary. We are also offering multiple exit options for existing owners, which can be aligned to their present and future aspirations,” Beukes added.
Ecocleen is a commercial contract cleaning provider that is passionate about service excellence, technological innovation and the environment. With a unique franchised business model, the company delivers local cleaning solutions across a diverse mix of industry sectors backed by nationwide standards, systems and support. As a result, Ecocleen currently services 13 million sq ft of office, retail, education, healthcare and industrial space, handling contracts of all sizes for both private and public sector organisations.