11 November 2014
Busy Bee Cleaning Services sweeps up with acquisition of contract cleaning and security company
Buckinghamshire based Busy Bee Cleaning Services Limited (BBCS) has acquired the entire issued share capital of contract cleaning and security company, Optim Contract Services Limited (Optim). The acquisition allows BBCS to assert its position in the market, whilst also expanding the portfolio of services that it can offer its customers.
The transaction team at B P Collins included representatives from the firm's corporate and commercial and commercial property groups. BDO LLP provided tax advice to BBCS in relation to the transaction.
A vital condition of the purchase was that one of Optim’s major customers, The Peer Group plc, would enter into a fixed three-year contract with Optim for the supply of cleaning and security services, providing guaranteed fees (subject to certain performance criteria) to Optim over the three-year period.
Victoria Holland, Partner in B P Collins LLP's corporate and commercial group who led the team, commented: “We’ve acted for BBCS for a number of years and in this time we’ve come to understand its corporate values as a growing and acquisitive company, and are pleased to have been a part of this growth. This transaction will help to expand the portfolio of services that the BBCS group offers.”
