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12 July 2019Press Releases
James Cowper Kreston’s corporate finance team recently provided transaction support to MAR Facilities Support Services Limited and their financier NatWest on the acquisition of London based facilities management business Sovereign FM Limited.
MAR Services has provided tailored support services to its clients for almost 30 years with a range of commercial cleaning, security and other facilities services. Headquartered near Bracknell with a diverse range of long standing clients, MAR Services has prided itself on providing clients with safe, secure and well maintained workplaces.
Sovereign FM, based in London, is a leading provider of high-quality facilities management across a diverse range of sectors. Sovereign FM focuses on a range of ‘hard’ facilities services including providing planned maintenance, reactive services, consultancy, special projects and strategic planning.
The corporate finance team provided financial and tax due diligence services to MAR Services and their financier NatWest prior to the acquisition of Sovereign FM. The team’s findings assisted in NatWest’s financing decision which allowed MAR Services to expand both its geographic reach and its service offerings. The acquisition will provide a step change to MAR Services’ growth and provide significant future opportunities for the business. MAR Services was also advised by DMH Stallard on legal aspects of the transaction.
Brad McAvoy, Corporate Finance Director at James Cowper Kreston said: “It was very satisfying to be involved with a significant growth opportunity for MAR Services. The financial and tax due diligence that we provided assisted in MAR Services’ acquisition decision as well as supporting the financing decision from NatWest. We were happy to work with NatWest again on this transaction and hope to work with MAR Services again in the future.”