Nilfisk has signed for
and closed the acquisition of Floor Cleaning Machines Ltd, also known as
Contractor®, a leading provider of repair and preventive maintenance in the UK.
The parties have agreed not to disclose the price of the transaction.
Contractor is located
in Manchester and primarily serves contract cleaners and retail customers
throughout the UK. The company is among the market leaders, a position which is
obtained due to a unique business model and service concept. In 2014,
Contractor realized a revenue of GBP 5.3m (approx. DKK 55m) of which more than
GBP 4.5m (approx. DKK 47m) related to the service business. The company has
approx. 40 employees and will in Nilfisk be operated as a separate entity under
the daily leadership of its two founders.
NKT’s Group Executive
Director & CFO Michael Hedegaard Lyng commenting on the acquisition:
- We are constantly
looking for opportunities to grow our businesses in order to increase the value
creation in NKT. The acquisition of Contractor is therefore fully in line with
NKT’s growth ambitions for Nilfisk.
Nilfisk CEO Jonas
Persson commenting on the acquisition:
- Acquisitions are a
central element in our recently launched growth strategy, with a clear view to
play an active part in the consolidation of the cleaning equipment industry.
Contractor complements and strengthens Nilfisk’s service business in the UK,
which is one of our focus markets. We are pleased that under our ownership the
current management team will continue to run the company ensuring Contractor’s
reputation as a trusted partner to our customers by continuously seeking to
improve the service level and operations.