Blue Diamond ‘cleans-up’ following acquisition

Industrial cleaning company Blue Diamond Cleaning Services Limited (BD) has bought the contract cleaning business of Comatec (UK) Limited from Onyx Environmental plc for an undisclosed sum.

Blue Diamond provides cleaning, security, and ambient services to a variety of transport, retail, and public sector organisations throughout the UK. Comatec has traditionally served the same areas, particularly regional train companies and the London Underground, and has a clear fit with its new parent. The deal has created a company with a turnover of more than £30 million and 3,500 employees throughout the UK.

Blue Diamond’s chief executive, Harvey Alexander, said this is an exciting step forward for the company and provides a strong foundation to build and to develop into new sectors. "It is rare in our industry for two companies to complement each other in this way, but to have the chance to pool the resources of the two companies and expand our operations both within existing and new markets was too good an opportunity to miss," he added.

“What we have created with the acquisition is a growing operation that has the knowledge, expertise and resources that will enable us to offer a complete cleaning solution to a wide range of markets we would hope to continue to grow our business both organically and by acquisition over the short-term.”

Boyes Turner was the legal adviser to Comatec and Onyx, with the head of its Corporate Transactions group Roy Butler leading its team. The firm has acted for Onyx for several years.

Fred Mendelsohn and Alan Aubrey of Axiomlab provided corporate finance advice to Blue Diamond. Tim Bee of Addleshaw Goddard was Blue Diamond’s legal adviser.