PM+M has acted in a deal that saw Your Castle Caretakers be acquired by Oltec Group.
The value of the share sale has not been disclosed, although all of Your Castle Caretakers’ staff and clients have been transferred to Oltec Group as part of the acquisition.
Your Castle Caretakers was established in 2013 and is headquartered in Blackburn but works across the North West. It specialises in commercial cleaning, facilities management and maintenance for clients operating in both the state and independent education sectors.
Oltec Group is a leading provider of building maintenance, security, and cleaning services. Its broad client base is spread throughout the UK and includes companies in the corporate, transport, logistics, retail, healthcare, and legal & finance industries. The firm is based in Wigan and was established in 1974. The deal will help Oltec grow its share of – and presence in – the North West’s education market.
Ryan Bilsborough, corporate finance manager at PM+M, handled the key elements of the sale including a highly confidential and targeted marketing strategy as well as the negotiation process. The sale was agreed and completed in just eight weeks.
Other advisors involved in the deal included Sonio Singh, corporate and commercial partner at Davis Blank Furniss, and his colleague Lauren Sever, associate solicitor, who acted for Oltec Group; and Rebecca McCann, senior associate at Forbes Solicitors, who acted for Your Castle Caretakers.
Ryan Bilsborough commented: “We were delighted to secure a deal for Your Castle Caretakers, a valued client of PM+M for many years. The deal secures the future of the business and will be a fantastic addition to Oltec Group’s growing portfolio.”
Lionilde Laverman – managing director at Your Castle Caretakers – said: “After years of hard work and dedication, now felt like the right time for us to sell. Oltec Group’s infrastructure, reputation and reach will, I’m sure, aid the firm’s growth and we wish them all the best.”
Olivier Cavaliere – CEO of Oltec Group – said: “We are delighted to welcome Castle Caretakers into the Oltec Group. Over the years, Castle Caretakers has built up a strong reputation and is a fantastic addition to our offering. This deal is another step in our ambitious growth strategy.”
Sonio Singh added: “As a firm, we were pleased to advise Olivier and his team secure yet another acquisition which will further help to boost Oltec’s fast growing reach and capabilities across the UK.”
Rebecca McCann of Forbes Solicitors commented: “It has been a pleasure working with Li and Marcel as part of this transaction. The business will be a great addition to Oltec’s group and this deal with bring with it lots of exciting opportunities for all involved.”