24 April 2017 | Herpreet Kaur Grewal
Tenon FM, the subsidiary of Mortice Limited, the AIM listed security and facilities management company, has announced the acquisition of Elite Cleaning & Environmental Services as part of its plan to grow and develop a global integrated FM brand.
The deal, worth around £4.5 million, comes less than a month after Tenon FM rebranded from its previous name of O&G and 18 months since the Mortice Group bought O&G in 2015. It confirms Tenon FM's stated aim to grow its business organically and through acquisition.
Elite has a complementary mix of clients and services and is regarded as "an excellent cultural and commercial fit for Tenon FM".
The client portfolio includes ITV, BMW, European Development Bank, Dorset and Wiltshire Fire Services, as well as several schools, colleges and medical centres and surgeries. Its range of cleaning services, as well as additional facilities management services and support services, reflects Tenon FM's strategic direction.
Tim Hancock, chief executive of Tenon FM, said: "Buying Elite simply makes our business better. It gives more geographic reach, adds some great skill sets for us to build upon that makes Tenon FM more attractive to new customers and moves us toward becoming an integrated FM service provider. Tenon FM is moving at pace, expanding through organic growth and acquisition, and this deal is really going to help us achieve our goals."
Manjit Rajain, chairman of Tenon FM, said: "Elite has a strong reputation and client base and the services it provides - a full range of cleaning, some FM and support services - makes this deal a great fit."
There will not be any immediate changes. Gerry McGrath, owner and founder of Elite will stay with the company, as will its 1,000 employees.