01.06.15
Sovereign Capital’s Alcumus expands property services with acquisition of SM&MS
Sovereign Capital, the UK private equity Buy & Build specialist, today announces that Alcumus, its multi-disciplinary provider of compliance and certification services, has acquired Safety Management & Monitoring Services (“SM&MS”), a health & safety and environmental services provider.
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Based in Huddersfield, SM&MS offers a wide range of services to assist clients with their compliance requirements, such as fire safety, asbestos management and health and safety consultancy. The company has developed a number of online compliance solutions, including ‘PropertyPlus’, an online health and safety database that can be used both with an individual property and across multiple portfolios.
Since being founded in 1994, the company has supported more than 1,600 companies across 60,000 projects. SM&MS has a particular specialism in the property management sector and has delivered over 10,000 risk assessments in this sector during 2014.
Beatriz Shorrock, SM&MS Operations Director, and Richard Edwards, SM&MS Business Development Director, will join the Alcumus leadership team ensuring continuity and quality of service delivery, as well as client relationship management.
The acquisition of SM&MS further accelerates Alcumus’ penetration of legislatively driven compliance markets, particularly around property & workplace risk. It is Alcumus’ fourth bolt-on acquisition since Sovereign’s investment began in 2009, which, combined with strong organic growth, has resulted in the company increasing revenues by over 4.5 times.
We have known SM&MS for a number of years and are delighted to have acquired a business with such a strong reputation for quality and delivery of critical risk management services to the commercial property sector. The addition of SM&MS represents a significant development in Alcumus’ Governance, Risk & Compliance and Accredited Inspection strategy, and will allow us to offer a truly holistic solution to address clients’ property-related business risks and legal obligations.
Martin Smith, CEO of Alcumus
Alcumus continues to see strong demand for its compliance and certification services and saw EBITDA increase by 24% in 2013 as a result of organic growth alone. SM&MS’s property specialism complements Alcumus’ existing service offering and will enable Alcumus to offer its clients an even more wide-ranging suite of products and services.
Dyson Bogg, Director at Sovereign
Sue and Phil Morris have built a business that is renowned for the high quality service its consultants provide. Due to its impressive financial track record and loyal customer base, there was significant interest from a number of parties. However, it was clear from an early stage that Alcumus was an ideal home for the business and Sovereign worked hard to deliver a transaction that worked for all of SM&MS’s stakeholders.
Ben Peacock, Director, Park Place Corporate Finance
