BGF-backed asbestos firm completes second buy-and-build acquisition
Thu, 08 Feb 2024 | BUSINESS SALE
Environmental Essentials, an asbestos service provider backed by BGF, has completed the second acquisition of its buy-and-build growth plan. The firm has acquired Quality Environmental Services (QES), giving it a route in the water and air hygiene space. The acquisition follows its November 2022 takeover of Adams Environmental, supported by BGF follow-on funding.
QES, which is based in Sheffield and Sandbach, is a specialist in water and air hygiene management, working across sectors including food manufacturing, leisure and hospitality, healthcare and education. Following the acquisition, the business will continue to be led by co-founders Tim Jones and Dave Beatson.
Environmental Essentials is headquartered in Stoke-on-Trent and operates from four offices across the UK, employing more than 200 people. So far, BGF has invested £5.6 million in the company.
Following the new acquisition, Environmental Essentials co-founder and Executive Director Richard Powner said: "The acquisition of QES makes perfect sense for Environmental Essentials. Water hygiene, air hygiene and asbestos management are three major areas of compliance and highly complementary from a business perspective.”
"By incorporating the wealth of expertise and capabilities of QES into our business, we can diversify our offering and gain national coverage for our water hygiene services. Not only does it allow us to cross-sell our existing services into new and untapped markets, while providing our workforce with a fantastic opportunity to upskill in the area of water and air hygiene, but it also strengthens our compliance proposition, which includes our recently launched online risk management tool, OMNI."
BGF Investor Jon Earl added that the deal was “yet another demonstration of the team's ambition and desire to build a company that has the strength and depth, in personnel, services and technological capabilities, to meet the growing needs of customers across the compliance landscape.”
Earl continued: "BGF's aim is to invest in innovative and exciting businesses that are vital to the country's economic growth – dynamic businesses that are well-positioned to seize opportunities and manage a multitude of challenges in a measured way. Environmental Essentials is an excellent example of this and we're delighted to be supporting them with their latest acquisition."
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