News - Midlands
Envirocare acquired for £4m
Envirocare, a provider of a range of pest control services based in Warwick, has been acquired by Green Compliance for £4m.
Green Complience, formerly known as Green Co2, is a provider of energy certification and consultancy services, based in Cirencester, Gloucestershire. The acquisition was made with an initial cash consideration of £1.825m, as well as a £2.1m bank debt with HSBC.
In addition to the initial payment, further revenue will be payable on the condition that Envirocare achieves “specified profit targets” for the 12 months after the deal has been completed, with a cap of £4m.
Green Compliance was advised by Collins Stewart Europe.