Tenon Group acquires UK based Elite Cleaning and Environmental services
Integrated security and facility management corporation The Tenon Group has acquired Manchester-based Elite Cleaning & Environmental Services (Elite) in cash and shares. The company has invested about £4.5 million in the deal with an aim to broaden the client base in the UK. Commenting on the acquisition Major Manjit Rajain, Group Chairman said, “This is a strategic move for the company to expand in the Facility Management domain by providing a 360-degree solution. Elite has a strong reputation and client base and it offers clear synergies with our existing operations and presents many cross-selling opportunities, as well as immediately enhancing the Group’s earnings.” The acquisition of Elite will help Tenon to expand in the European market and will give the company a competitive edge while allowing it to offer a range of services in the Integrated Facility & Security Management domain across multiple geographies. “Tenon is profitably growing and is focused on expanding its geographical footprint through targeted acquisitions, organically,” said Rajain.
Tags : ALLIED