Contract caterer Compass is looking to clean up in South Africa after agreeing to acquire Supercare Services Group, a South African cleaning company.
Supercare, which has 4,000 contracts in the Business & Industry, Healthcare and Education sectors, generated revenue of about £63.6m for the year to 28 February 2011 and had gross assets of around £12m equivalent.
Compass believes the acquisition, which is subject to various conditions including approval from the Competition Commission of South Africa, will expand its South African subsidiary's "multi-service offer" to clients and will give it a strong cross-selling platform.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Andy Furlong, group managing director for the region, said: "Supercare has a reputation for the quality of its services and strong customer relationships with both South African and international clients.
"This acquisition is in line with Compass group's ongoing strategy to invest and expand in fast growing markets and we continue to see many exciting opportunities."
NR
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
