Green Compliance snaps up Pyramid
Worcester-based Green Compliance has bought Sheffield company Pyramid Fire Protection.
Pyramid designs and installs fire detection and protection systems to clients including Bradford Royal Infirmary, Sheffield Forgemasters and defence contractor Babcock International.
Anna Peysner, associate director at Castle Square Corporate Finance, led negotiations on behalf of Pyramid's shareholders.
"Castle Square is delighted to have acted on this transaction, which secures a successful exit for the shareholders and also ensures the future success of the company in the hands of Green Compliance, for whom the purchase is an excellent strategic fit," said Peysner.
Castle Square said it had identified potential buyers then run an auction process which led to AIM-listed Green Compliance emerging as the preferred bidder. With a well-established track record of acquisitions in the fire protection sector, Green Compliance was described as a clear front runner from early on in the process.
The £20m-turnover compliance services provider, which employs about 400 staff, recently (5 January) snapped up Surrey-based Phoenix Fire & Safety.
This, along with the Pyramid deal, brings the number of companies in the fire protection services division of the group to six: the others being Mayfair Fire and PFS (extinguisher recycling), both in Oldbury, C&T Fire in Horsham and FDSA in Harrow.
