MSS acquisition will lead to larger contracts
30 September 2010
MSS (Managed Support Services plc) has acquired London based technical building services specialist, ECS, for £3.2m
This acquisition is designed to strengthen further MSS’ market share and to enable the business to benefit from commercial and operational synergies. The Board of MSS has also stated that the resulting increase in scale, supported by a strong balance sheet, will enable the Group to tender successfully for larger maintenance and services contracts.
Jamie Reynolds, COO at MSS, said: “ECS is a successful and profitable operator in the same markets as MSS and the acquisition will bring improved scale to the Group. ECS has a large and diverse customer base currently generating contracted maintenance revenues in excess £3m . This contracted revenue base has grown materially in recent years and we believe that this reflects the high levels of customer service and engineering skills delivered by the company. MSS has a particularly high regard for the quality of the engineering workforce at ECS and will continue to deploy the same teams in order to preserve continuity and service levels for customers.“
ECS is a long established provider of specialist mechanical and engineering services for corporate and commercial buildings, primarily within the M25 region. The business was founded by the two vendors one of whom, Hasi Patel, will be taking a senior Group engineering role within the enlarged MSS. The current MD of ECS, Colin Campbell, is also taking a senior role in the enlarged Group.
“This latest acquisition forms part of our ongoing growth strategy to build a market-leading integrated facilities management business within the UK. It materially increases the scale of our Building Services operations as well as enhancing the Group’s revenue mix as a result of the substantial growth in contracted, maintenance revenues. It means we now have the financial resources and operating scale to compete effectively for strategic outsourcing contracts within the Building Services markets and we continue to anticipate growth in the contracted revenue base,” concludes Jamie.
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