Spice is right for Mono
Article Date: Sep 29 2008A provider of utility support services has strengthened its business in the northwest after buying a rival firm. Spice has expanded its offering to social landlords, housing associations and local authorities through the addition of Mono Services to its business.
It bought the company from support services group Mavinwood through its distribution division for £450,000 in cash, which was settled on completion. The terms of the deal do not include Mono’s insurance and commercial repair activities.
Spice chief executive Simon Rigby said the deal would help to grow the group as local authorities are demanding their support service companies provide a range of services.
Mono is located near Eccles, Greater Manchester, close to where Spice’s gas maintenance business is headquartered. The acquired company has 123 employees, which include electricians, plumbers and joiners.
In the year to January 2008, Mono made an operating profit of £700,000 from a £17.4 million turnover. These figures include activities not acquired by Spice.
Spice, which was founded in 1996 following a buy-out from Yorkshire Electricity, provides electrical, water, telecom, statutory gas inspections, energy management and facilities management services.
