LPM Group cleans up with refinancing deal

LPM Group, a UK provider of contract cleaning, security and maintenance services, has completed a £12 million refinancing backed by Clydesdale Bank.


LPM Group, a UK provider of contract cleaning, security and maintenance services, has completed a £12 million refinancing backed by Clydesdale Bank.

LPM Group, a UK provider of contract cleaning, security and maintenance services, has completed a £12 million refinancing backed by Clydesdale Bank.

The funding will provide LPM with a war chest to continue its buy-and-build strategy.

Buy-and-build specialist Sovereign Capital backed the buy-in management buy-out of the business in 2006 and has since supported the bolt-on acquisitions of washroom business Dependable Services and contract cleaning specialist InterCity Group.

A team at Armstrong Transaction Services conduted commercial due diligence on LPM, led by associate director Edward Hikmet.

Hikmet commented: “Armstrong has previously worked with Sovereign Capital on a number of deals in the sector and asked Armstrong for commercial due diligence on LPM Group as part of its debt refinancing.

“LPM is a national contract cleaning company with a national footprint, and the refinancing supports the ongoing buy-and-build strategy to grow the business.”

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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