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11 October 2022
Press ReleasesJames Cowper Kreston Corporate Finance has acted as corporate finance adviser to the shareholders of Combined Technical Solutions (”CTS” or “the company”) on its sale to Apleona Group, a European market leader in integrated facility management, headquartered in Germany.
CTS was established in 1999 and has over 180 employees. The company specialises in a range of mechanical and electrical services to a series of flagship and Tier 1 corporate buildings in London and Manchester. CTS will join the Apleona UK brand to strengthen its position as an integrated FM provider in the UK marketplace.
Apleona CEO Dr. Jochen K. commented: “After Siemens SGS in Austria and FM Solutions in Poland, the successful majority acquisition of CTS in the UK within a few months represents another attractive bolt-on acquisition that will be important for our overall growth and represents an ideal addition to our respective national company in terms of both regional coverage and the service portfolio. In addition to our strong organic growth with new and existing customers and our offers for active support with ESG strategies and for energy savings in existing buildings, these acquisitions will help us continue to support the Apleona Group’s dynamic development.”
Bryan McLaggan, CIWFM., Managing Director of CTS added: “We are excited to bring the CTS brand under the Apleona UK banner. This acquisition offers both companies potential to explore new opportunities in all the sectors we serve. Apleona UK’s investment, combined with their strong track record, will bolster our core offering and further defines our footprint in the workplace and facilities industry.”
Stuart Williams, who led the transaction at James Cowper Kreston Corporate Finance commented, “It was a pleasure to work with the team at CTS and build on our credentials in facilities management and the built environment. We believe they have found a great partner for the company in Apleona UK and wish them every success as they continue their growth journey.” Other advisers to CTS include Irwin Mitchell who acted as adviser to the shareholders and Blake Morgan who advised the management team.
John Warburton, Chairman of CTS commented, “The James Cowper Kreston team led by Stuart provided invaluable support both through the due diligence process and in final negotiations. Their team was professional and supportive throughout, and their experience was a great help in finding solutions throughout the sale process.”
