Clearwater International helps Promanex to its first acquisition

Clearwater Advisor

The Promanex Group, the ambitious industrial support services company based in Hurley, near Tamworth, has completed its first major acquisition: the £3million purchase of Jefco Services which was negotiated by the Nottingham office of corporate finance house Clearwater International.

“The acquisition of Jefco and the securing of further funds provides us with the opportunity to expand the business, further enhance the breadth of our product offering and begin to augment organic growth with selective acquisitions.

Mark Dixon, Managing Director, Promanex

“The Promanex team, who have been clients of ours since their successful management buy-out in 1999, turned to us when they decided the time had come to speed their growth by acquisition. Having confirmed that Jefco Services was a suitable vehicle, we were extremely pleased that Sovereign Capital and Bank of Scotland were keen to lend their support while we carried out all the acquisition negotiations.”

Robert Britton, Partner, Clearwater International