Benchmark International is delighted to announce the acquisition of Deeside-based drainage services business, PDS, by Salford-based Thermatic.
Established in 2009, PDS offers drainage and wastewater services including CCTV surveys, HPW cleaning, lining, and repairs around the North Wales, Cheshire, Wirral, and North West areas.
Thermatic provides mechanical and electrical maintenance services to building owners and managers throughout the UK and Ireland. The acquisition supports the Thermatic operating model by expanding its technical self-delivery capabilities and supplements their hard facility management offering in the UK.
Post acquisition, all PDS staff will transfer to Thermatic’s existing drainage division, along with its extensive fleet and equipment.
It is the company's second major transaction, following the purchase of a critical ventilation business in 2019, and forms part of Thermatic's goal of supporting current and prospective customers in both private and public sectors.
Steven Partington, director at PDS, said this about working with Benchmark International:
“Overall a great experience in what were very stressful circumstances. The initial teaser and IM were brilliant in locating the right buyer for our business, which I am hugely grateful for. Along the way the Benchmark team were very informative with updates on potential interest, and at the deal end of the process were very professional in helping get everything over the line.”
Mr. Partington also added: "This is a really exciting time for PDS and becoming part of the Thermatic family is a great move for the business. The acquisition provides PDS with new opportunities and will enhance the Thermatic brand within the drainage industry. From the initial meeting with Thermatic it felt right, the people and the vision they share for the future was a big driver for my decision. I now look forward to a bright future with Thermatic."
Jack Prady, managing director at Thermatic Technical FM, said: "This is the right company in the right market at a great time for us.
"This acquisition will strengthen our ability to meet the increasing demand for further strategic drainage support to our current customer base. Furthermore, the acquisition will enhance our offering in the Hard FM space and present unrivalled capability as we continue to cement our footprint in the Technical FM space.
"During the initial exploratory meetings, PDS presented strong alignment with our values and ambitions. Both the people and product they have created is unique in the marketplace and we're absolutely delighted to bring them into the Thermatic Technical FM family. We expect strong synergies with our operating model and look forward to providing additional central support to give PDS a wider platform to grow."
Europe: Michael Lawrie at +44 (0) 161 359 4400 / Lawrie@BenchmarkIntl.com
Americas: Sam Smoot at +1 (813) 898 2350 / Smoot@BenchmarkIntl.com
Africa: Anthony McCardle at +27 21 300 2055 / McCardle@BenchmarkIntl.com
ABOUT BENCHMARK INTERNATIONAL:
Benchmark International is a global M&A firm that provides business owners with creative, value-maximizing solutions for growing and exiting their businesses. Benchmark International has handled over $10 billion in transaction value across various industries from offices across the world. With decades of M&A experience, Benchmark International’s transaction teams have assisted business owners with achieving their objectives and ensuring the continued growth of their businesses. The firm has also been named the Investment Banking Firm of the Year by The M&A Advisor and the Global M&A Network as well as the #1 Sell-side Exclusive M&A Advisor in the World by Pitchbook’s Global League Tables.