Following the acquisition of Coventry-based The Landscape Group in March last year, in which BDO also advised, this second acquisition takes Idverde’s turnover in the UK to £90m with 1,600 staff. The transaction reinforces the Idverde group’s geographical networks in the UK and strengthens its commercial position in key locations including Greater London and Birmingham.
Satvir Bungar, Head of Facilities Management and M&A Director at BDO, comments: “Less than one year ago, we advised TLG on its sale to the Idverde group and we are very pleased with the follow-on sale of Quadron into this group. It represents a great strategic fit in areas such as greater geographical coverage, the sharing of best-practice and technology.
“We believe that purchaser sentiment into public sector outsourced business models has improved following the 2015 election outcome, particularly for businesses like Quadron that are widely-respected for the quality of its offer and trusted by many of the UK’s largest local authorities.
“The company’s reputation for the quality of its services is also enhanced through this merger, evidenced by BALI awards in 2015 for Idverde UK (trading as The Landscape Group) and Quadron. This included ‘Employer of the Year’ for Quadron and two Principal Awards for landscaping and grounds maintenance for The Landscape Group.”
The Quadron acquisition is the latest in Idverde’s UK and European growth strategy, backed by the significant resources of Paris-based private equity investor Chequers Capital. All the Quadron senior management team will remain in key positions in the newly consolidated structure.