Incentive FM acquires ACE
Incentive FM Group has acquired Derby-based HVAC design, installation and maintenance specialist, ACE Environmental Engineering from its founders.
The UK FM merger and acquisition specialist Morphose brokered the deal, which completed at the end of last week. ACE Environmental Engineering adds around £6.5m of turnover to Incentive Tec, the groups M&E business, led by Chris Windass.
The strategic acquisition will see ACE complementing and working closely with Comserve Ltd, the mechanical and electrical (M&E) maintenance and installation services company that became part of Incentive FM Group last year, a deal also brokered by Morphose.
Martin Reed, managing director at Incentive FM Group, commented:
“This strategic move takes our M&E provision to well over £10 million pa which brings it into line with our other established single service lines – security, cleaning, catering and consultancy with total facilities management still being our largest service area at £45m pa. The ACE team is a perfect fit with our organisation, particularly within the retail markets. Their experience within the public sector will help us to expand into this area and their project management skills will prove invaluable moving forward.”
Morphose Managing Director Nick Atherton commented:
“It has been a pleasure working with Chairman Jeremy Waud and CEO Martin Reed as the business expands. We wish them every success in developing their business.”