BGF successfully exits specialist services business NSS
BGF has announced a successful exit of North West-headquartered NSS, as the business is acquired by Premier Technical Services Group Ltd (PTSG). The deal has delivered excellent returns for all shareholders.
NSS is a specialist services provider, covering all aspects of external building maintenance – including window and technical cleaning, testing and platform hire – to the retail, commercial property, events, healthcare and distribution markets.
BGF initially backed NSS – which was formed by a merger with another BGF portfolio company – in July 2016 with £3.3 million to support its national roll-out and acquisition strategy. Since then, the company has made four acquisitions to expand its geographical footprint and specialisms, grow its fleet and enter new markets, making NSS one of the largest independent businesses in the sector. EBITDA has grown five-fold during the investment period.
NSS has gained a competitive advantage in the industry through the business’ commitment to offering self-delivered services across the UK without using sub-contractors or hiring equipment or machinery.
Niel Bethell, CEO at NSS, said: “BGF’s funding allowed us to accelerate our plans to rapidly expand over the past five years. In this time, we’ve really grown up as a business – investing in our people, equipment, and technology. BGF brought the ideal combination of a long-term investment approach and experience of scaling up businesses like ours.
“In PTSG, we’ve found the ideal home for NSS as their values match ours and they have the same uncompromising commitment to customer service. The deal is a statement of intent for the future and provides significant benefits for our team and customers now we’re part of a much bigger yet still entrepreneurial organisation. We look forward to working with our new colleagues to achieve our shared ambitions.”
Neil Inskip, head of BGF in the North West, added: “Niel and his team have done an impressive job of growing NSS’ enviable customer base and expanding into new regions and sectors. We’re delighted to announce such a positive outcome for everyone involved, which has delivered great returns for all shareholders.”
Paul Teasdale, PTSG’s Group CEO, said: “We are delighted to have acquired Nationwide Specialist Services (NSS) and warmly welcome the team to the PTSG family. This acquisition increases the capacity of PTSG’s experienced Building Access Specialists team, complementing the work of our highly trained specialists who excel in all access methods – cleaning, repairing and maintaining every kind of building and structure. Platform hire expands a niche specialist service offer, and we look forward to growing this area of the business.”
Today’s announcement creates a combined business employing 2,300 people across 47 sites.
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