Accelerating the growth and capabilities of an industry champion
- In less than three months Bellrock acquires Concerto, Stanley Hicks, Property Solutions, Dawn and RBK Mechanical
Bellrock, the technology-enabled property and facilities manager, has recently completed a series of five add-on acquisitions. Bellrock is backed by Lyceum Capital, the growth investor, which first invested in the company in 2013.
The latest additions for Bellrock further illustrate Lyceum’s commitment to support the growth of its portfolio companies both organically and through targeted execution of buy-and-build strategies: in this case to build scale; broaden the range of services and customers; and further tech-enable the business. Earlier this year, the number of Lyceum-backed add-ons surpassed the 100 mark. Further add-ons are planned for Bellrock and other Lyceum portfolio companies.
The five acquisitions are:
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- Concerto, an acknowledged software market-leader focussed on the Facilities, Property and Asset management space. Concerto’s software will continue to be sold on a stand-alone basis and is also being integrated into Bellrock’s core operations. It will help underpin Bellrock’s commitment to provide a fully tech-enabled outsourcing service and will significantly enhance customer experience. Concerto adds contracts from the Public Sector and retailers such as John Lewis and Poundland, further extending Bellrock’s customer base.
- Property Solutions, one of the UK’s premier consultants on commercial service charges for properties. The acquisition will enable Bellrock to add market-leading service charge consulting to its range of products, as well as adding major blue chip companies such as BT, WPP and Lloyds Banking Group to its client list.
- Stanley Hicks, a firm of Chartered Surveyors, offering commercial property advice. Established for over 100 years, Stanley Hicks has long-lasting relationships in the non-profit and education sectors. The acquisition further extends Bellrock’s market reach.
- Dawn, saw the acquisition of four large and long-term public sector Facilities Management contracts, adding further scale to Bellrock’s core operations, which now has a forward order book of £450m on its PFI portfolio.
- RBK Mechanical, carries out nationwide heating ventilation and air-conditioning (HVAC) maintenance. The acquisition allows Bellrock to offer directly, planned and routine building maintenance to clients as part of its service level agreement.
Jeremy Hand, Managing Partner of Lyceum said, “Bellrock continues to disrupt the Property and Facilities Management space, offering its customers a radically improved service. We are excited about Bellrock’s future following its recent acquisitions, together with potential add-ons that are in the pipeline, as well as further planned organic investment.”
David Smith, CEO, Bellrock added: “Our recent acquisitions continue the transformation of Bellrock and further help in the delivery of a whole new customer experience. Lyceum’s continuing vision and support were instrumental in bringing these acquisitions to fruition.”