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Extended service offering results from purchase of Cooltech

18 October 2021

Ecoserv has announced it has purchased the Cooltech Environmental Engineering business in a deal worth £3.5m.

It is the first acquisition completion since the company rebranded from Ecocleen to Ecoserv and announced its intention to become a multi-service FM business.

Cooltech Environmental Engineering is a provider of mechanical, electrical, HVAC and water hygiene services to wide range of clients, some of whom are the UK's leading property managing agents.

It was formed in 1992 and has a turnover of £7.5m, employing 40 people to a provide both on-site and mobile engineers around the M25 area to commercial residential, office retail and hospitality.

Chief operating officer Francois Oosthuizen said: "The acquisition will allow us to diversity as part of our ambitious growth strategy, with the aim of delivering integrated FM solutions to new and existing customers nationwide."

He further explained that the Cooltech maintenance expertise will complement the Ecoserve cleaning operation, "so this development represents a huge opportunity and a significant step-change for the business".

Ecoserv chief executive officer Jean-Henri Beukes confirmed his company's commitment to increasing its FM capabilities and geographic reach through acquisition and investing in its existing infrastructure.

"This latest deal will take our annualised turnover to over £40m by hear end and represents a key part of our transformation into a multi-discipline FM company," he said.

Funding for the deal was secured from UK-based asset manager BOOST&CO, which specialises in lending to high-growth SME businesses.

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