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Sun June 13 2021

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New owners for M&E contractor

9 Jul 13 Mechanical & electrical services contractor Maxwell Stewart has been taken over by the South African owned facilities management firm Servest.

Servest identified Maxwell Stewart as a good fit to grow its UK business. The combined business will start with annual sales of around £225m.

All the senior management at Maxwell Stewart will remain in place to help grow the business, Servest said.

“This acquisition is part of our growth strategy which we aim to achieve through a mix of organic growth and further purchases,” said Servest Group CEO UK and Europe Rob Legge.

“This acquisition provides diversification into yet another service area – it offers long-term contracts and a huge growth opportunity. I look forward to working with Maxwell Stewart’s management team on integrating the business into Servest and realising our combined potential.”

Maxwell Stewart managing director Paul Morgan said: “This is great news for our business.  Being part of the Servest group allows us to discuss a full range of services with our customers and further develop the relationship with our clients who are looking for a multiservice solution.”

Maxwell Stewart was founded by Robert Stewart in 1992 and provides services in the retail, leisure, education, travel, corporate, transport and manufacturing sectors. It has an annual turnover of £15m.

Last year Servest acquired the UK’s largest independent caterer, 7 Day Catering, and Stag Security.

Servest customers include Balfour Beatty, Laing O’Rourke, Carillion and Willmott Dixon, as well as retailers Tesco and Sainsbury’s.

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