Premier Support Services has received a multi-million pound investment from Frontier Development Capital (FDC) to facilitate a management buyout (MBO) by its management team.
FDC’s investment will see Premier’s managing director Andrew Walker becoming a majority shareholder alongside the management team of Martin Holt, Danielle Parker and Tom Chatwin.
The Birmingham-based service provider has said it will “pursue new organic growth” and provide “strategic acquisitive growth” within the property management sector following the MBO.
Premier Support Services provides commercial cleaning, building maintenance and security services to more than 1,000 commercial properties across the UK to clients such as Savills and Whitbread.
Walker said: “FDC worked closely with us to structure an investment that is right for our business and its customers. It will enable us to continue to invest in innovative solutions and help our Premier people to continue to ‘make a difference’.
Simon Kelsall, investment director at FDC, said: “The last 18 months have elevated the importance of cleaning within both the office and leisure environments. Premier has reacted well to this, leading the way in the sector’s response to Covid-19 and introducing new service lines that address the specific concerns of individual customers.”
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