Outsourced facilities management firms T-Jolly Services and Atlas Sterile Services have been acquired by JLA Group in a deal supported by our Corporate Finance team.
The Preston-based firms provide HVAC maintenance and repair services, as well compliance testing for cleanrooms. With a recognised presence in the hotel, care home and retail markets, as well as serving major UK universities, T-Jolly has an enviable reputation as a high quality, national service provider.
Supported sell-side by FRP’s Corporate Finance team, the deal marks the latest in a series of acquisitions by JLA Group. Customers of T-Jolly and Atlas Sterile Services will now benefit from JLA’s wider service offering, which includes commercial laundry, catering, heating and fire safety equipment.
FRP’s Adrian Gare and Alex Starling advised on the deal, which will see former shareholder Paul Riley remain as Managing Director within the acquired businesses. Adrian and Alex were appointed to guide the exiting shareholders through a detailed sale process. The team worked collaboratively with the client, the buyer and their advisers to ensure all stages of the transaction progressed as efficiently as possible in order to meet agreed deadlines. This included the project management of the financial and legal due diligence processes, as well as drafting and negotiating the sales and purchase agreement (SPA) prior to completion.
Commenting on the deal, Paul Riley, Managing Director, said: “The sale of the businesses provides an excellent platform for future growth as an integral part of a large organisation with a broad range of commercial interests, including a fast-growing heating division as well as a broad range of planned and reactive maintenance services activities. The support of the team at FRP has been invaluable throughout this process.”
Adrian Gare, Partner at FRP, said: “Having developed a group with a combined turnover of more than £7 million, this deal represents an excellent opportunity for the shareholders to realise value while securing the interests of their customers via a high-quality trade buyer. Despite challenging market conditions, we are delighted to have helped Paul with the sale of the businesses to JLA.”
Selling a business
Having developed a group with a combined turnover of more than £7 million, this deal represents an excellent opportunity for the shareholders to realise value while securing the interests of their customers via a high-quality trade buyer.Adrian Gare Corporate Finance