Square One Law supports Maxim Facilities Management during latest acquisition
As part of its efforts to become a major player in the cleaning and facilities management sectors nationwide, Maxim Facilities Management has agreed to buy the contract cleaning division of Sunderland-based company, Newlife Cleaning Systems (North).
The deal makes Maxim one of the biggest employers in the city, with over 500 staff working within the organisation. The acquisition will increase the company’s turnover by 50% to near £5 million, with further plans to grow the business to a turnover of £15 million within the next 3 to 4 years.
Formed in 2010, Maxim provides a range of services from large-scale contract cleaning of factories and offices and deep cleaning of laboratories and hospitals through to landscape gardening and painting and decorating. Its clients include Toys R Us, Quorn Foods and Gentoo.
Speaking about the growth, Graham Conway, Managing Director at Maxim said: “Our intention has always been to grow a national contract cleaning business offering wider facilities management services. We plan to do this from both organic growth and acquisition, and the purchase of New Life is our first step in moving towards this goal.”
The company has further acquisitions planned across Scotland and the rest of the UK in the coming months.
Graham continued: “Our heart is very much in the North East and our roots are firmly established here, yet we have a very clear objective to become a national company. The cleaning market is a massive, multi billion pound business and is predominantly dominated by extremes of either PLCs or small local, family owned business. There are very few, mid-sized competitors operating in the £15million to £35million turnover bracket in the north, and it is very much our intention to work in this space and expand from the north east into the rest of the UK”
James Bryce and Lucy Bailey of commercial law firm Square One Law supported Maxim on this deal. Partner James Bryce said: “Along with the team at Ryecroft Glenton we have supported Maxim in its recent growth and look forward to continuing to work with the team.”
Michael Hall, Finance Director at Maxim, said: “We have been working with Square One for almost 12 months now and they continue to provide us with invaluable advice. We view James & Lucy very much as strategic partners and we look forward to continuing to our excellent working relationship for many years to come.”