Tue, 20 Dec 2022 | BUSINESS SALE
Testing, inspection, certification and compliance firm BES Group has said it will target further M&A and organic growth after completing a double acquisition. The Manchester-headquartered company has acquired Strainstall UK and Mimic from Cumbria-based marine services firm James Fisher and Sons.
The two companies have been sold to BES Group in a deal that could rise to £17.5 million. The group will pay an initial £13.6 million cash consideration, with a further cash consideration of up to £3.9 million payable in Q1 2023 based on the performance of the companies in the fourth quarter of 2022.
Mimic provides intelligent condition and performance monitoring services, primarily to clients within the maritime sector, while Strainstall UK provides load and asset monitoring services for both onshore and offshore operations.
The acquisitions mark the ninth and tenth M&A deals struck by BES Group since 2019, as well as its fourth and fifth acquisitions of 2022. Looking forward to 2023, the company has said that it will continue to aim to grow both organically and via M&A.
BES Group Chief Executive John Campbell said that the group was “absolutely delighted” to be growing through further acquisitions. Campbell added: "Both Strainstall UK and Mimic businesses, bring with them a group of highly skilled people to complement our existing colleagues. We know that both businesses will have a successful future as part of the BES Group, strengthening our solution offerings, in the area of Asset Reliability."
Regarding the group’s growth plans going forward, Campbell continued: "This is an exciting time for both sets of customers and all our people. Growth by acquisition is an important part of the future growth of our organisation, alongside organic growth, and welcoming two more brilliant businesses to our group is a great way to end the year."
Headquartered in Manchester and with a testing laboratory in Salford and training centre in Warrington, BES Group is a highly acquisitive firm that has grown both organically and through M&A deals to have a team of over 1,200 people.
Read about what's driving a booming dealmaking environment in the UK's professional services industry.
Find businesses for sale here.
If you are looking for an exit, we can help!.
This is a unique opportunity to acquire an established distributor of safety and security technology with extensive geographic coverage in the UK. The company boasts a highly experienced management team and a diverse product range, including innovati...
Discover the rare chance to acquire a specialist UK supplier of marine engines and generators, noted for their leadership in the used marine engine market and hard-to-find parts.
The business specialises in providing advanced water control solutions tailored for high-risk sectors, ensuring optimal safety and efficiency.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.