Textile maintenance business Davis Service Group has made two acquisitions for a combined consideration of £44.5 million.
Textile maintenance business Davis Service Group has made two acquisitions for a combined consideration of £44.5 million.
The acquired companies comprise the Norwegian and Swedish mat cleaning business of ISS, which generates turnover of £12 million, as well as the workwear business of Germany-based Klarner, with sales of £10 million in 2009.
Peter Ventress, CEO of Davis, said: ‘Facility services and workwear are both [high] growth sectors in Continental Europe, with Germany and Scandinavia being strategically important regions for us.’
In the six months to June 2009, Davis reported a rise in revenue of 3 per cent to £481.5 million and a decrease in pre-tax profits of 2 per cent to £29.2 million.
