Incentive FM Group has successfully acquired Somerset-based electrical maintenance provider, Weston Electrical Services (WES) Ltd from its founders, Ian Rogers, John Rogers and Linda Rogers.
The UK FM merger and acquisition specialist Morphose brokered the deal, which completed today. Morphose have successfully advised on a fourth bolt-on acquisition for Incentive FM Group, with the purchase of the electrical maintenance business in Weston Super Mare. WES adds around £10m of turnover to Incentive Tec, the group’s M&E business, lead by Chris Windass.
Weston Electrical Services Ltd. is an electrical and mechanical contractor providing commercial, industrial and domestic services. This acquisition provides Incentive FM Group with improved coverage in the South West region, further improving their geographic offering.
Incentive FM Group’s trading companies provide services in the areas of; Facilities Management, M&E installation and Maintenance, Cleaning, Security and Consultancy. The business is located in London and has a run rate turnover in excess of £120m.
Commenting on the transaction Chris Windass, Director of IFM’s M&E division said:
“Morphose provided invaluable support to us throughout the deal. They quickly pulled together historical information and key metrics before working with management to develop financial forecasts. Our trust in their capabilities allowed us to proceed with confidence throughout the transaction.”
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.”