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SME Capital Fund Acquisition For Cleanology

SME Capital is delighted to announce supporting national contract cleaning professionals, Cleanology, with their acquisition of TC Bibby & Sons.

Head quartered in London, Cleanology is a leading commercial cleaning business operating for 22 years. Providing professional commercial & office cleaning services, property maintenance and support services to companies across the UK. Clients include blue-chip corporates, royal palaces, and some of the world’s most famous brands.

The business has grown significantly through new and organic growth coupled with selected acquisitions, but the DNA of the business has always remained the same; to be in the vanguard of ethical employment and championing green credentials as well as taking a leadership position in the industry.

The target business, TC Bibby, was established in Wigan in 1931 and like many businesses in the sector is family run, with a range of long-standing and loyal customers.

SME Capital have agreed to provide a bespoke 5-year funding structure to support the acquisition of TC Bibby.  Dominic Ponniah, CEO at Cleanology, said “Despite having a number of finance options open to us, we chose to partner with SME Capital based on the strength of the relationship and their commitment to support us long-term. We are thrilled to have begun that journey.“

James Lowe, Regional Director at SME Capital added “Dominic has developed Cleanology into a very strong business over many years that holds a reputation for high quality service. We are delighted to have supported Cleanology with the acquisition of TC Bibby. We look forward to supporting the business in its exciting next stage of development.”

SME Capital were supported by Andrea Unwin of Clarion Solicitors, who provided legal advice. Mike Davis of Primary Finance Group, assisted in structuring the lending package.

Mike Davis, added, “We always try and take great care to introduce funding partners where we think there is a very strong commercial fit, but also one where the personal chemistry is right. It was clear from the outset that SME Capital would be an excellent funding partner for Cleanology and we are delighted that they have supported this important acquisition for the Cleanology team.”

 

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