Clearwater International advises Floor Cleaning Machines on cross-border sale

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Clearwater Advisor

Clearwater International has advised Floor Cleaning Machines Ltd (FCM), also known as Contractor®, on its cross-border sale to Nilfisk.

FCM is the leading technical maintenance business within the UK retail floor cleaning market. Located in Manchester but operating nationwide, the company primarily serves contract cleaners and retail customers throughout the UK. FCM provides an all-inclusive breakdown assurance service to its customers, servicing all brands of equipment in order to maximise asset usage, minimise downtime and enable contract cleaners to meet the strict KPIS of their customers.

Nilfisk is a supplier of professional cleaning equipment in industrial, commercial and consumer markets. The company is headquartered in Denmark, with sales entities in 45 countries and dealers in more than 70 countries. The transaction further strengthens Nilfisk’s service business in the UK, a key market for the company.

Clearwater International partner Paul Jones led the team which advised the shareholders of FCM on its sale.

“Selling a business is a tough and emotional experience… Having the invaluable benefit of industry-focussed, rational, calm and caring advisors sat alongside you truly makes all the difference – for me, it proved to be fundamental.

“There is a point when you and your Advisors will instinctively know that this is the right Buyer and the right deal. This is where Paul Jones and his fabulous team really put the pedal to the gas and upped the ante to ensure maximum value and the best structure… their work rate and attention to detail continued to be nothing short of outstanding and massively reassuring.

“One of the great benefits is that you can’t lose: in the unlikely event of Clearwater not seeing you through to – and past – completion, they’ll have still got your business and its financial affairs in the finest of order. If you think it already is then, respectfully, you’re wrong!”

Dean Crompton, Director at Floor Cleaning Machines

“The sale of FCM to strategic acquirer Nilfisk is further evidence of global manufacturers recognising the benefits of building strong service and solutions elements within their business models. The acquisition means Nilfisk is now able to offer customers the ability to increase asset life as well as providing replacement new assets, giving them a key competitive advantage in the market. Clearwater International continues to see strong interest in the technical services market, driven by the limited number of strong players, shortage of technical resource and the benefits of scale through consolidation.”

Paul Jones, partner at Clearwater International