A Higher Manchester-based enterprise finance dealer has helped fund a significant deal within the specialist cleansing sector by offering a seven-figure structured finance bundle.
PMD Enterprise Finance’s structured finance division has supplied a part of the funding which has allowed React Group Plc to finish its £8.5m acquisition of LaddersFree Ltd – a longtime enterprise specialising in business window, gutter and cladding cleansing.
The deal allows Derbyshire-headquartered React Group to broaden its buyer base and obtain additional nationwide development.
The AIM-listed firm gives a variety of specialist nationwide companies together with deep cleansing, decontamination, and dangerous waste elimination for sectors together with prisons, emergency companies, industrial, highways, transport, expertise, and hospitality.
Based mostly in Exeter, LaddersFree has a community of over 300 service companions and counts established manufacturers like Costa Espresso, Subsequent, Lidl, Vacation Inn Specific and Marriot lodges amongst its prospects.
PMD Enterprise Finance supplied a £2.5m structured finance bundle to assist the money and shares deal. The deal staff at PMD was led by structured finance administrators Callum Bull and John Platt.
Commenting on the deal, Callum Bull, structured finance director at PMD Enterprise Finance, stated: “We’re proud to have supported this important acquisition that may permit React Group to additional diversify its service providing within the specialist cleansing market.
“LaddersFree has a extremely scalable enterprise mannequin and might stay up for additional important development by way of the extra funding and sources supplied by React Group.”
Mark Braund, chairman of React Group, stated: “That is our second main acquisition and one which represents our ambition to construct a worthwhile, business main enterprise by way of each natural development and strategic acquisitions.
“LaddersFree has a longtime buyer base and generates important recurring enterprise, which enhances the extremely specialist reactive cleansing service we already present. We’re delighted to welcome the corporate and its glorious staff to the group.
“We’re additionally extremely grateful to Callum and John within the structured finance staff at PMD Enterprise Finance for his or her invaluable assist. It’s been refreshing to cope with an middleman that has such a transparent understanding of the market and was capable of information us fastidiously by way of the deal course of.”
React Group has supplied specialist cleansing and decontamination companies in tough areas and delicate circumstances for over 20 years, offering a 24/7 service by absolutely skilled and safety cleared professionals.
Based in 2002 by Justin and Jason Korinek, LaddersFree specialises in specialist window cleansing for outlets, eating places, places of work, lodges, and automobile dealerships. It makes use of a variety of strategies, together with water-fed poles, cell elevated platforms, abseiling and twine entry to service its prospects.
PMD Enterprise Finance was based in 2010 and is now one of many largest unbiased suppliers of enterprise finance within the UK, concentrating on £250m of lending this yr. Its structured finance staff was based in 2020 and specialises in offering structured finance options to SME {and professional} advisors.
