Livingstone advises technical building services provider Trios Group on sale
SPIE, the independent European leader in electrical and mechanical engineering, HVAC services and energy and communication systems, has acquired Trios Group, the UK’s leading independent provider of compliance, facility and property-related services based in Birmingham. Trios Group will enhance SPIE UK’s Technical Facility Management division.
Trios Group, first established in 1919, has expanded steadily to become a national provider of technical building services, generating revenues of £65m in the year to 31 March 2016. Operating across the Commercial, Local Government, Health, Education, Distribution, Leisure and Retail markets, Trios Group self-delivers virtually all of its maintenance and compliance services through three divisions: Property Maintenance, Legal & Statutory Compliance and Access & Security. The company employs c. 690 staff across five offices in Birmingham, Enfield, Cirencester, Basingstoke and Warrington.
The acquisition of Trios Group grows SPIE UK’s presence in compliance and reactive and planned building maintenances across the Retail and Leisure markets. The company’s strong presence across the heart of the UK will enhance SPIE’s own offering in the region and help develop its national brand. SPIE worldwide has 39,000 employees working from 600 sites in 38 countries and generated revenues of c. €5.3bn in 2015.
James Thoden van Velzen, CEO of SPIE UK, commented: “This acquisition is the next step forward for SPIE’s Technical Facility Management business. We are eager to develop our reach and, with the mobile capabilities Trios Group provides, we are setting ourselves on a path of significant growth in the sector. We are looking forward to working with the team to develop together a business that offers an industry-leading quality of service, safety and value for money.”
Sandra Harris, Trios Group’s Managing Director, added: “We are delighted that Trios Group will be joining SPIE; this is a fantastic opportunity for our employees, the company and our customers alike, and we can’t wait to collaborate on many new and exciting projects.”
“We have really enjoyed working with the Livingstone team on this important transaction for us. Through their sector knowledge they were able to gain a good understanding of our business and introduce us to highly complementary potential partners. They delivered on their commitments and ran a very professional process that has resulted in a deal that the shareholders are extremely happy with.”
Jeremy Furniss, Partner at Livingstone, said: “Working with leading independent businesses such as Trios is at the heart of Livingstone’s focus. It has been a pleasure to work with Sandra, Bruce, Jeff and the Trios team and we wish them every success in the future under SPIE’s ownership.”
Alex John, Director at Livingstone, concluded: “This is another important transaction in the technical FM space for Livingstone’s Business Services sector team, following on from the sale of Westway to ABM. Trios Group attracted considerable interest from international M&E services groups and we expect quality UK operators in this area to continue to attract keen interest from UK and overseas strategic buyers.”