Based in Walton-on-Thames, Smarter was established in 2006 with a focus on commercial cleaning services. Over the past few years, the business has built an enviable reputation in the Facilities Management sector by expanding its breadth of services into fire doors and grounds maintenance. Through its acquisition of Low Cost Cleaning in April 2023, Smarter has further diversified its offering into the regulated medical sector.
The investment was led for Key by Philip Duquenoy and Sandeep Banga. Key were advised by Addleshaw Goddard (Legal), HMT (Financial and Tax), PwC (Commercial), RPL (Commercial), GB3 (Technology), AON (Insurance) and Stratton HR (Management). SSL’s shareholders were advised by Lock Dutton (Corporate Finance), Azets (Tax) and Hart Brown (Legal).
“We are delighted to partner with Smarter Services. Jason and his team have embedded an unparalleled culture of delivering a high-quality and environmentally focused service offering to Smarter’s client base. The recent acquisition has demonstrated Smarter’s ability as a platform for further acquisitions within Facilities Management, a sector that possesses a credible buy-and-build opportunity. The potential for future M&A and the organic growth plan were key considerations for our investment.”
The highly experienced management team, led by Jason Southwell (CEO), Ryan Meredith (Finance), Ian Whittingham (Business Development), Michael Poppa (Operations) and Kye Gbangbola (Non-Executive Director), will remain in the business.
CEO, Jason Southwell comments: “As Founder, the Smarter Services Board and I are delighted to be partnering with Key on the next stage of our growth. The partnership will bring many opportunities for our incredibly talented team to grow with the business, as we continue making a difference in the Facilities Management and Commercial Cleaning sector. Key share our passion for delivering market leading solutions and service levels. We are now uniquely positioned to capitalise on the current trends driving industry growth and consolidation.”
This is the fifth Investment from KCP IX. Key makes equity investments into growth businesses and has an outstanding track record of delivering strong returns for its investors and supporting management teams to create exceptional businesses.