asb law acts for CleanSafe in the acquisition of a floor treatment application business from Bonasystems
The Corporate Finance team of asb law has acted for CleanSafe Services (UK) Ltd (CleanSafe) in the acquisition of the floor treatment arm of Bonasystems Europe, the UK's leading manufacturer and provider of floor care chemical products. Under the deal, Bonasystems’ product application team and its sales staff, have moved across to CleanSafe under TUPE arrangements.
The deal gives CleanSafe exclusive rights in the UK to apply Bonasystems Grip, the market-leading anti-slip treatment for tiles, stone, and other cementitious surfaces. Bonasystems Grip reduces the risk of slips and trips in a variety of environments, including wet leisure and spa facilities, transport hubs, and retail centres. CleanSafe will also provide a contract service for Bonasystems’ other industry-leading surface treatment products for cleaning, maintaining, and sealing floors.
CleanSafe’s Managing Director Steve Broughton said it will invest £250,000 in developing and promoting its Bonasystems Grip application service over the next two years. He explained: “We see huge potential in widening the use of the product. We are delighted to have this opportunity to work with Bonasystems to deliver their range of highly-effective floor treatment products on behalf of customers. This acquisition represents a natural extension of our service offering, and will allow us to market Bonasystems products, such as Bonasystems Grip, to our extensive customer base, adding significant value to their operations.”
On working with asb law, Steve Broughton added: "I would also like to extend all of our thanks for asb law's hard and diligent work ensuring that the deal has been done under expert guidance and considerable scrutiny so that we all start this new chapter with confidence and assurance.
Kate Doody, Associate - Corporate Finance, who led the deal supported by Amanda Gibbs, Associate – Commercial, commented: "The deal is a perfect fit for both businesses, and for their customers. It has been a great pleasure to work with Steve Broughton and his team and we look forward seeing the business continue its exciting growth journey."
Published: 1 May 2018