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Benchmark International Successfully Facilitated the Transaction Between LaddersFree Ltd and REACT Group PLC
May 17, 2022
Benchmark International is pleased to announce the transaction between Topsham-based LaddersFree and AIM listed REACT, in a deal worth up to £8.5m.
Established for 20 years, LaddersFree is a commercial window cleaning business serving independent, regional, and national customers across the UK. With an established network of over 300 approved service partners, LaddersFree utilises local window cleaning companies to offer its services to all areas of mainland UK.
Since its inception, LaddersFree has grown organically. Unaudited financials for the year to 30 November 2021 show that it generated revenue of c£3m and a pre-tax profit of c£1.4m.
REACT is an industry leader in the provision of specialist cleaning, working in challenging environments such as hotels, prisons, crime scenes, and cruise ships.
This is REACT Group’s second acquisition and represents a further step in the company’s ambition to achieve its stated growth strategy. The transaction provides REACT with the opportunity to diversify its service offering through expansion into complementary markets, and to leverage existing resources to accelerate growth.
Shaun Doak, Chief Executive Officer at REACT, said: “We are delighted to welcome Jason, Justin and the team at LaddersFree into the REACT family. Over the last 20 years they have established a very strong reputation for consistently delivering high-quality services greatly valued by local, regional and national customers. The LaddersFree value proposition to both customers and their network of specialist service providers is incredibly attractive to our business. Combined with the team’s focus and customer-centric service culture, they fit perfectly within the Group.”
Kate Newman, Transaction Leader at Benchmark International added: “The LaddersFree team have built an exceptional business and we echo REACT’s thoughts on the synergies between both companies. It was a pleasure to work with all parties, their dedication and efficiency to the transaction made the process run very smoothly. On behalf of everyone at Benchmark International, we would like to wish all parties every success for the future.”
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