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The PwC UK Lead Advisory team has advised on the successful sale of the facilities management businesses trading as Red Support Services and Green Support Services, both subsidiaries of Florin Industrial Services Holdings Limited, to Kingdom Services Group Limited.
The acquired businesses are well established in the facilities management industry, focusing on cleaning, security, and building maintenance, and servicing over 230 shopping centres and commercial sites across England and Wales.
The businesses will be rebranded to Kingdom Security and Kingdom Cleaning respectively, and will be integrated with the wider Kingdom group which is growing rapidly through the completion of multiple acquisitions in the last 12 months plus major new contract awards.
Kingdom is one of the largest, independent, and privately-owned companies providing specialist services in the UK, turning over £250m and employing 7,000+ great people, operating from a UK office network located in Edinburgh, Glasgow, Birmingham, London, and Belfast.
Tim Armstrong, PwC Deals partner, said: “It has been great to work with the shareholders of Florin on a significant deal for both parties. Vickie, Ian, Andrea, Meredith, Mark and the whole Florin team have worked tirelessly for many years in order to grow the Red and Green businesses and establish them as industry leaders by offering customers exceptional service. Kingdom is the right partner to build on those core values, and we look forward to seeing them grow even further.”
PwC UK Lead Advisory acted as lead adviser to Florin Industrial Services Holdings Limited with the overall team being led by Tim Armstrong, supported by Hugh Rothwell, Alex Frostick, Emerson Sharp and Danny Vancheri.
