Spotless is delighted to announce that it has signed a conditional acquisition agreement for the purchase of Australia’s leading air-conditioning and mechanical services provider AE Smith.
AE Smith is the fourth acquisition by Spotless in the past 6 months, and will enhance the integrated service offering to Spotless customers, increase in-house delivery, and improve margins.
AE Smith has a rich history with over 117 years of heritage. AE Smith has annual service and maintenance revenues of over $100m and around 665 employees across 10 locations throughout Australia.
Spotless Chief Executive Officer and Managing Director, Mr Bruce Dixon said: “AE Smith’s scale will make a significant contribution to Spotless going forward. I am excited by the opportunity to further strengthen our capabilities by providing air-conditioning and mechanical services to new and existing clients directly, reinforcing our position as Australia’s leading integrated facility services provider”.
The transaction is expected to be completed by the end of February 2015, subject to certain conditions being satisfied.