Servest identified Maxwell Stewart as a good fit to grow its UK business. The combined business will start with annual sales of around 拢225m.
All the senior management at Maxwell Stewart will remain in place to help grow the business, Servest said.
鈥淭his acquisition is part of our growth strategy which we aim to achieve through a mix of organic growth and further purchases,鈥� said Servest Group CEO UK and Europe Rob Legge.
鈥淭his acquisition provides diversification into yet another service area 鈥� it offers long-term contracts and a huge growth opportunity. I look forward to working with Maxwell Stewart鈥檚 management team on integrating the business into Servest and realising our combined potential.鈥�
Maxwell Stewart managing director Paul Morgan said: 鈥淭his is great news for our business.聽 Being part of the Servest group allows us to discuss a full range of services with our customers and further develop the relationship with our clients who are looking for a multiservice solution.鈥�
Maxwell Stewart was founded by Robert Stewart in 1992 and provides services in the retail, leisure, education, travel, corporate, transport and manufacturing sectors. It has an annual turnover of 拢15m.
Last year Servest acquired the UK鈥檚 largest independent caterer, 7 Day Catering, and Stag Security.
Servest customers include Balfour Beatty, Laing O鈥橰ourke, Carillion and Willmott Dixon, as well as retailers Tesco and Sainsbury鈥檚.
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