UK: Facilities management company Arcus FM is to become independent from Sainsbury’s after securing “strategic investment” from ESO Capital.
Arcus FM was formed in 2009 as part of a joint venture with Sainsbury’s. Today, it boasts over £150m of long-term contracted revenues and is established in the top 20 UK national integrated FM providers.
While ESO Capital’s significant minority equity stake will see Arcus becoming independent from Sainsbury’s, the company will continue to provide FM services for its longest-serving client.
Majority shareowners Chris Green and Steve Willis continuing to lead the firm through its next phase of growth, alongside ESO Capital.
The new influx of capital will be used to build on its growth and enhance its development in technology, training and innovation.
Chris Green, CEO for Arcus, commented: “This is a very exciting time for Arcus. Our company is growing rapidly so it was important for us to join forces with a reliable investor who shares our long-term vision, and this partnership will allow us to accelerate our expansion within the FM industry.”
The UK based organisation says it will continue to develop its long-term relationship with Sainsbury’s and together, the companies now embark on their next strategy phase.
Chris Green will oversee the operational part of the business and Steve Willis will take on the role of chief strategy officer, overseeing the implementation of the business strategy across the organisation. Having delivered on his ambition to bring new investment into the business, CFO Neil Pearce will leave the company to be replaced by Paul Knight from AIA Worldwide.