Morphose Capital Partners, London-based specialist in mergers and acquisitions, corporate restructuring and finance, has announced the acquisition of commercial property maintenance specialist Turnpower by Andwis. Morphose acted as advisor to Turnpower throughout, identifying the acquiring partner, and helping negotiate and structure exit terms.
Turnpower provides commercial property maintenance services in the London and Home Counties area, with an impressive roster of retail, healthcare, hospitality and leisure, commercial and social housing clients. It has grown based on offering efficient, high-quality property maintenance services across all construction industry disciplines. Key to its success is its investment in high calibre training and direct employment of skilled technicians and engineers who can be rapidly deployed to respond to emergencies. Further, its investment in smart software has provided it with the ability to track technicians and the progress of repairs, so the right technicians can be deployed quickly in an emergency and provide an up-to-date and accurate report to clients on progress.
Turnpower appointed Morphose Capital Partners to advise on a potential acquisition, engaging them to identify purchasing companies and to help negotiate and advise on deal structure and earnout terms.
Paul Gomez, Managing Director of Turnpower, commented: “It’s been a pleasure working with M&A specialist Morphose Capital Partners, their outstanding knowledge, personal approach and level of support and advice have been pivotal to achieving this outcome. We’re thrilled to have joined the Andwis group of companies, and are excited to embark on our next stage of growth together. We’ve full confidence that our combined workforce and skilled technicians, technologies and geographic reach will further enhance our levels of service and breadth of offerings to our loyal and valued clients.”
Dave Seaton, Director at Morphose Capital Partners added: “it’s been a real pleasure working with all parties to achieve an incredibly positive result. We’ve every confidence that Turnpower will help Andwis further grow its client footprint, diversify its services and that the combined entity will thrive off the very real synergies.”
“I’m delighted to welcome Paul and the Turnpower team into the Group,” says Paul Greenwood, CEO of Andwis. “Turnpower has built an incredible reputation with customers and is known for its quality, responsiveness and customer focus. Our Maintenance & Response offering has a bright future with Paul as divisional MD and the Turnpower team doing what they do best.”
