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Estates management firm in new acquisition

An estates management firm has completed the acquisition of a cleaning products franchise.

01 November 2012

Estates management firm J Luscombe Associates has added to its portfolio with the acquisition of specialist cleaning firm Banner Solutions.

Banner, which is based in Melton Mowbray in Leicestershire, is part of Rainbow International and the business negotiations were supported by Birmingham-based Blue Sky Corporate Finance.

Associate director of Blue Sky Tony Seaton said: "It is important in a transaction of this type that the buy-in management team are properly advised and supported."

Managing director of J. Luscombe Associates John Luscombe said Blue Sky had supported his firm "all the way" as it worked on the transaction.

Firms carrying out merger and acquisition talks may find it is not just financial support they need, as negotiations can often be lengthy and protracted.

One such case is that of the proposed merger of drinks firms AG Barr and Britvic, with the two firms having just received their second extension from the takeover panel of the deadline by which they must either walk away from a deal or state a clear intention to merge.

Confirmation that the two firms were in discussions was made in early September.

Source: Insider Media / The Business Desk November 1st

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