Tue, 23 Jul 2024 | BUSINESS NEWS
Obsequio Group, a provider of mission-critical fire detection, safety, security and water hygiene compliance services, has secured a new funding package to enable it to continue its buy-and-build growth strategy.
The company, which is backed by Beech Tree Private Equity, has secured a senior finance package from Kartesia. The financing will support the group’s strategic growth initiatives, as it seeks to secure further expansion through acquisitions of established compliance services and technology firms.
The group’s M&A strategy is focused on broadening its geographical coverage, expanding its market presence and enhancing its service capabilities. Currently, Obsequio serves more than 3,000 public and private sector customers across a wide range of sectors, including student accommodation, education and industrials.
The group also has a growing technology offering, through its Drax Technology business, which provides monitoring and detection technologies.
Over the past 18 months, Beech Tree’s backing has supported the group in the acquisition of three companies and, with the new funding facility, it is planning to make an additional three or four acquisitions over the next year.
Simon Cashmore, Executive Chair of Obsequio Group, commented: "Since Beech Tree's investment, we have made really strong progress. The business has not only made a series of complementary acquisitions, but has invested heavily in its people and management to facilitate continued growth.”
"We are incredibly excited to now have this additional firepower to drive further M&A. We already have a pipeline of opportunities that we hope to secure in the near future but are continuously looking for new complementary businesses to bring into the group."
Beech Tree Private Equity director Ben Cartwright added: "This deal will not only enable Obsequio to accelerate its organic growth plans, but will also provide significant additional firepower to pursue other high-quality compliance services and complementary technology acquisition targets.”
"We have a clear plan to build Obsequio into the leading technology-enabled compliance services provider in the UK and I firmly believe that Kartesia's support over the coming years will help us to achieve this."
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