Business support services company Green Compliance has acquired Pestfree Environmental Services for £1.63 million.
The transaction was financed by the proceeds of Green Compliance’ £5.5 million fundraising on AIM in early November.
John Prowse, CEO of Green Compliance, comments that the deal is in line with the company’s strategy to expand growth within the ‘blue collar’ compliance market, and adds: ‘The acquisition of Pestfree further highlights the intention of the board to deepen our position within the national pest control sector.’
The deal is the ninth acquisition by Green Compliance since February, and follows the purchase of the pest control business Envirocare GB in July.
On completion of the deal Pestfree will be integrated into Green Compliance’ existing pest control operations and its senior management team will remain with the business.
Northamptonshire-based Pestfree provides pest control and food hygiene services and training to companies in sectors including hospitality and food manufacturing. Founded in 2000, the company currently employs 37 staff. In the year to March 2010, Pestfree declared a net profit of around £344,000 on a turnover of £1.4 million.
AIM-listed Green Compliance provides water, fire and pest control services to UK public and private sector companies. The Gloucestershire-based company was founded in 2009.