UK: Stockport-based facilities management provider Thermotech has been sold by the Foresight Group to Atalian Servest Group.
Atalian Servest, one of the largest FM service providers, now employs more than 125,000 people in the world and operates in 33 countries across four continents. It was formed following the Atalian Group’s acquisition of UK company Servest Ltd last month.
Thermotech is a hard facilities management provider, designing, installing and maintaining customised air conditioning and fire sprinkler systems for retail, commercial and residential properties. It has a number of high profile clients including M&S, John Lewis and Selfridges.
Foresight made its original investment of £2.5m in August 2013. This investment enabled Thermotech to expand its customer base, most notably through the acquisition of Oakwood in 2016.
Thermotech recently moved into new larger offices in Cheadle to house the expanded team, staff numbers having doubled over the last five years.
“Partnering with the Thermotech team since 2013 has been a great experience and has allowed us to support a rapidly growing building services group to become a leader in their market,” commented Foresight senior investment manager Claire Alvarez. “Servest has a strong reputation and we look forward to seeing Thermotech’s continued growth.”