This website uses cookies primarily for visitor analytics. Certain pages will ask you to fill in contact details to receive additional information. On these pages you have the option of having the site log your details for future visits. Indicating you want the site to remember your details will place a cookie on your device. To view our full cookie policy, please click here. You can also view it at any time by going to our Contact Us page.

https://www.rwmexhibition.com/welcome/about-us

Proposed £28m purchase of drain and maintenance services business

23 March 2017

Franchise Brands has announced its proposition to acquire drain clearance and maintenance services provider Metro Rod for a total consideration of £28m.

If successful, this will be the second acquisition since its previous initial public offering (IPO) in August 2016 for Franchise Brands, the multi-brand international franchise operation.

The business has a strategy of acquiring franchise businesses that will benefit from its central services, including marketing and the expertise of its board members and leadership team.

Metro Rod was founded in 1983 and provides its services on a largely reactive basis 24 hours a day.

It includes 40 franchisees around the UK and is one of a small number of businesses operating on this basis.

The company recorded system sales of around £32m in its last financial year and completed more than 130,000 tasks.

It was further reported that managing director Colin Davis will continue in his position at Metro Rod after the deal is completed.

Franchise Brands stated its belief that there is "substantial scope to accelerate Metro Rod's development as part of a group focused entirely on the development and growth of franchise businesses".

It further listed the potential to further develop local accounts, increase the number of national accounts and continue to expand the recently-launched Metro Plumb business, while extending the brand into more B2B sectors.

Franchise Brands has also released its end of year accounts for the 12 months ending 31 December 2016, recording a rise in total revenue of 11% to £4.87m, compared with £4.38m for the previous year.

Underlying profit had also increased by 11% to £1.24m.


Print this page | E-mail this page

MOST VIEWED...


Article image Chequers Chosen for Parliamentary Review

Chequers Contract Services have contributed their knowledge and experience to the 2017 Parliamentary Review, in the Construction and Engineering Edition.Full Story...

Article image PFM Awards 2017 finalists announced

Successful entries selected for inclusion in the list of finalists for the PFM Awards 2017 have been announced.Full Story...

Concerns raised over data protection update

Steering a route to better mobile working

Transport for London awards new cleaning contract to ABM UK

https://www.emergencyuk.com/pfm2