Multi service provider Servest has acquired independent catering business 7 Day Catering as part of its growth and diversification strategy.
Servest identified the catering company as providing an excellent strategic fit with its existing business and its plans for expansion in the UK facilities sector. The combined business will have annual sales of around £200m.
According to Servest, there is a clear trend in the UK towards multi-service facilities provision:
“More and more customers recognise the cost and time-saving benefits of having one point of contract for all their facilities service, from cleaning and catering to security and pest control,” commented Servest Group CEO UK and Europe Rob Legge.
“This acquisition provides diversification into yet another service area – it offers long term contracts and a huge growth opportunity. I look forward to working with the 7 Day Catering team on integrating the business into Servest and realising our combined potential.”
7 Day Catering was founded by Chairman Mark Boothright in 1990. It has an annual turnover of £80m and currently employs 2,500 people and provides services to more than 170 clients in business, industry and education, including Asda, DHL, Ikea, B&Q, Sainsbury’s, Tesco and The Wirral Metropolitan College.
The emphasis is on continuity, with Henry Watts and the senior management at 7 Day Catering remaining in place to drive the strategy and growth of the business. The senior management team will retain equity in the business.
Servest believes this acquisition will further its ambition to become a top five industry player. The new combined entity will be well placed to enhance value by adding additional complementary services, forming strategic alliances with other service providers and making further acquisitions.
About Servest:
Servest is a leading multi service provider in the UK facilities sector offering catering, cleaning, consumables, landscaping, maintenance, pest control, specialist services, security, washroom services and waste management to businesses in the retail, leisure, public, commercial, transport and logistics sectors. The business employs more than 13,500 people and has a turnover of over £200 million.
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