The first saw Sovereign-backed support services company
The company has long-term contracts with several local authorities and housing associations. Kinetics now incorporates Seaflame, Camerons, TA Horn, Hudson and Walmotts and has annual sales of more than £80m.
The second acquisition saw Sovereign acquire
Dependable Services has more than 245 clients across the daily office and light industrial sectors, with services including contract cleaning, window cleaning, washroom services and direct janitorial sales. The business was founded more than 50 years ago.
Sovereign Capital said that it was in negotiations with a number of further targets, which were expected to be completed shortly.
“[Dependable Services’] acquisition marks the seventh bolt-on acquisition that Sovereign has completed for our portfolio companies in the last six months,” said Ryan Robson, managing partner at Sovereign.
Last month, healthcare portfolio company Alkare bought Positive Lifestyles, a residential care provider, and STL, a national vocational training provider, bought Orient Gold, a provider of apprenticeship and adult learning.