The Service Response Group Ltd (SR Group) has acquired CPL FM Ltd (CPL) to expand its market share in the UK facilities management sector. CPL joins CDC Facilities Management Ltd (CDCfm) in the SR Group.
The transaction has been supported by £1m funding from ThinCats, enabling the Midlands based SR Group to acquire the Birmingham-based CPL, a leading facilities management company offering a range of integrated FM services.
Founded 15 years ago, CDCfm has unique experience installing and maintaining cleanrooms and close control environments within a wide range of market sectors and has a large presence in the facilities management market covering a range of sectors including retail.
This is SR Group’s first acquisition. By bringing these two Midlands businesses together it will build on the strong organic growth CDCfm has experienced since its formation.
Advising SR Group was Nick Johnson, partner at Newcastle-based Ryecroft Glenton Corporate Finance, with legal advice from The Wilkes Partnership. Nick Johnson introduced Thincats to SR Group.
Carl Isakovic, managing director, CDCfm, said: “CDCfm already offer a great range of services, but this merger gives us the opportunity to develop and grow in a targeted way, as well as being able to provide a more comprehensive service throughout the whole of the country. ThinCats and Ryecroft Glenton could see our potential from very early in the conversation, and we are very pleased to have finalised the funding at this time.”
Nick Johnson, partner at RGCF: said: “The transaction represents an exciting new chapter for CDCfm and CPL, coming together in the newly formed Service Response Group. Under the leadership of Carl and his fellow directors the businesses have a very positive future. Thincats are the perfect partner for this dynamic new group.”
Chris Webb, director, regional business development, ThinCats. added: “We wholly support the merger of these two strong businesses. There are many synergies across the wider group, and the management teams demonstrated a great desire to maximise their potential. We will be following their progress with great interest.”