11 Marxh 2020 | Herpreet Kaur Grewal
Outsourced facilities management firms T-Jolly Services and Atlas Sterile Services have been acquired by JLA Group in a deal supported by specialist business advisory firm FRP.
The companies, based in Preston in Lancashire, provide HVAC maintenance and repair services, as well compliance testing for clean rooms. T-Jolly has a recognised presence in the hotel, care home and retail markets, as well as serving major UK universities, with "an enviable reputation as a high-quality, national service provider".
Supported sell-side by FRP's Manchester-based corporate finance team, the deal marks the latest in a series of acquisitions by JLA Group. Customers of T-Jolly Services and Atlas Sterile Services will now benefit from JLA's wider services, which include commercial laundry, catering, heating and fire safety equipment.
FRP's Adrian Gare and Alex Starling advised on the deal, which will see former shareholder Paul Riley remain as managing director within the acquired businesses.
Riley said: "The sale of the businesses provides an excellent platform for future growth as an integral part of a large organisation with a broad range of commercial interests, including a fast-growing heating division as well as a broad range of planned and reactive maintenance services activities. I shall be remaining as managing director of the T-Jolly and Atlas Sterile businesses, with my prime objectives being to seek full onboarding of our businesses into the JLA Group structure in addition to continuing our impressive growth record."
Adrian Gare, partner at FRP, said: "Having developed a group with a combined turnover of more than £7 million, this deal represents an excellent opportunity for the shareholders to realise value while securing the interests of their customers via a high-quality trade buyer. Despite challenging market conditions, the mergers and acquisitions market remains buoyant."