WHAT’S NEW?
STYLES&WOOD ACQUIRES SPECIALIST CONSULTANCY
GDM GROUP Integrated property services group, Styles&Wood Group plc (“Styles&Wood”), has acquired specialist mechanical, electrical and environmental consultancy, The GDM Group Limited, as it continues to diversify and expand.
The acquisition enhances Styles&Wood’s expertise in engineering and professional services, and will provide opportunities to broaden its work with new and existing clients.
The Group has acquired the entire issued share capital of Kent-based GDM for an initial consideration of £4 million in cash and shares, with up to £3.1 million payable as deferred consideration.
Incorporated in 2001, GDM, which is headquartered in Dartford, employs more than 50 staff. It specialises in
CHSA CONTINUES TO FOCUS ON
STANDARDS The Cleaning & Hygiene Suppliers Association (CHSA) is adding to its three Manufacturing Standards Accreditation Schemes with the launch of a new Accreditation Scheme for Distributors.
The Scheme went live on 1st January 2017, with distributor members of the CHSA being invited to apply to join.
“Our focus is always on driving up standards in the industry; our existing Manufacturing Standards Accreditation Schemes widely recognised as already having done so,” explained Mike Stubbs, Chairman of the Accreditation Scheme Panels and Vice President of the CHSA. “The increasing number of buyers of cleaning and hygiene products specifying our Schemes in their tenders provides evidence for this.
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providing engineering and project management services in business- critical environments, to some of the UK’s largest property owners, across sectors including retail, education, commercial offices and data centres.
The GDM management team has over 90 years’ experience working with a range of blue-chip customers throughout the UK and Europe. All GDM employees will remain employed by the business, which will be positioned within the wider Styles&Wood Group.
In the unaudited financial year ended 30th
April 2016, GDM
delivered revenues of £7.9 million, and underlying pre-tax profits of £1.0 million. Styles&Wood expects the acquisition to be earnings enhancing from FY 2017.
The deal is the latest development in the property services group’s successful diversification strategy, and follows its acquisition of Keysource Limited – a provider of specialist technical services to the
“Establishing an Accreditation Scheme for distributors is a natural next step. We’re delighted to be able to give our distributor members the opportunity to apply for a marque that will signal their commitment to supplying product that can be relied upon to meet the Scheme Standards and the CHSA Code of Practice.”
As with the Manufacturing Standards Accreditation Scheme, applicants will be admitted to the Scheme on the successful completion of an auditing process conducted by the CHSA’s Independent Inspector, Martin Yates. Once they have successfully passed the audit and secured Accreditation Scheme status they will continue to be monitored periodically with a minimum of two audits each year, giving buyers of their products the certainty that standards are maintained.
To join, distributors must also sign a declaration stating that they will only
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datacentre and critical facilities sector – in September 2016.
Tony Lenehan, Chief Executive Officer at Styles&Wood, said: “Styles&Wood has a proven diversification strategy, which has enhanced our client relationships across our focus sectors. The acquisition of GDM further reinforces our strategic vision, and will enable us to widen our service offering to both existing and new customers, and create new sustainable business opportunities for the Group as a whole.
Gary Draper, Director at GDM, said “We truly believe that this is an exciting move for GDM. The business is in great shape and coming under the Styles&Wood umbrella will provide the Company and all of our employees with greater opportunities for development and an even stronger platform, both operationally and financially, for growth in the years ahead.”
www.stylesandwood-group.co.uk
stock and offer CHSA Accredited products or products that conform to the same Standards as required by the relevant CHSA Manufacturing Standards Accreditation Scheme.
www.chsa.co.uk
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