A services provider based in Bury St Edmunds has revealed ambitious plans to triple its turnover to £300 million in the next two years.
Servest Multi Service Group has unveiled the plans after buying out Stag Security Services, bringing its turnover up to £100 million.
Now Servest is aiming to become one of the UK’s top five multi service providers.
Rob Legge, group chief executive for Servest said: “The acquisition of Stag Security is part of our ambitious growth strategy to reach a turnover of £300 million by 2014 which we aim to achieve by a mixture of acquisition and organic growth
“This is an exciting time for our company as it continues to evolve into one of the leading multi service providers in the UK.”
Stag Security which was set up 10 years ago, provides manned and electronic security systems to major construction, infrastructure and utilities firms, as well as blue-chip corporate companies. Its clients include Balfour Beatty, Carillion and London’s Crossrail project.
It recorded a turnover of £15 million last year and employs 600 people nationally.
Graham Watson, managing director at Stag Security said: “Joining Servest was a natural move for us because we recognised a company that operates with the same high standards of customer satisfaction and dedication to achieving excellence.
“We have worked hard to achieve a leading position within the security and facilities management industry and believe that working with Servest will enable us to achieve greater market penetration and increase our service offering.”
Servest provides catering, cleaning, landscaping, maintenance and pest control services, as well as security, washroom services and waste management to a variety of sectors including retail, leisure, public, commercial, transport and logistics.
Its client list includes Tesco, Next, Primark, the Natural History Museum, the Science Museum, the University of Cambridge, and Leicestershire County Council.
The firm employs 9,000 people and is 73 per cent owned by Servest South Africa, while the remainder is owned by a UK management team.
It bought Turners Cleaning and Support Services in October, and Sherwood, who provide integrated on-site support services to blue-chip businesses and public sector organisations, in 2008.