North West-based corporate finance boutique Rickitt Mitchell has acted as lead financial advisor to commercial cleaning provider AM Services Group (AMSG) on sale to facilities and property managed services provider Pinnacle Group (Pinnacle).
The acquisition will extend Pinnacle’s service capacity, technical skill set and expert knowledge across new FM sectors, including retail, manufacturing and chemical industries.
With AMSG headquartered in Lancashire, the acquisition also enhances Pinnacle’s ability to deliver holistic seamless services to a broader range of communities in accordance with their commitment to community stewardship.
Established in 2001, 750-strong AMSG has over 20 years of collective FM business experience and a 96 per cent business retention rate.
For new and existing AMSG customers, the acquisition provides enhanced value through wider access to technical skills and innovative service solutions, while supporting Pinnacle’s existing plans to optimise new growth opportunities. This includes penetration of the large-scale UK catering market by building on AMSG’s recent landmark contract win with a leading Japanese multinational automotive manufacturer.
As part of the deal, AMSG’s Managing Director Greg O’Brian, Commercial Director Ashley Kirk and Operations Director Neil Cooper, will all remain with the business to focus on delivering growth and service excellence. This senior management team will fully integrate the AMSG business with Pinnacle over the next 12 months. Current CEO and Founder Adrian Cresswell will be retiring from the company.
Kaine Smith, Charlotte Potts and Stuart Moss from Rickitt Mitchell provided sell-side financial advisory on the deal, while Rebecca McCan at Forbes provided legal and advisory and Rachel Marsdin at Moore & Smalley advised on tax.
Kaine Smith, Director at Rickitt Mitchell, said: “AMSG is a fantastically well-run business with a leading industry reputation, and it has been a genuine pleasure working side by side with their highly professional team. With the support and resources of Pinnacle, I have no doubt that the AMSG management team will take the business from strength to strength in the future and continue its impressive growth story.”
