Pinnacle Group expands FM expertise with AM Services Group acquisition
Pinnacle Group has acquired AM Services Group (AMSG) in a deal that extends its service capacity, technical skillset and expert knowledge across new FM sectors including retail, manufacturing, and chemical industries.
Kaine Smith, Charlotte Potts and Stuart Moss from Rickitt Mitchell, our Partner in the United Kingdom,provided sell-side financial advisory on the deal, while Rebecca McCan at Forbes provided legal and advisory and Rachel Marsdin at Moore & Smalley advised on tax.
Kaine Smith, Director at Rickitt Mitchell, said “AMSG is a fantastically well-run business with a leading industry reputation, and it has been a genuine pleasure working side by side with their highly professional team.
“With the support and resources of Pinnacle, I have no doubt that the AMSG management team will take the business from strength to strength in the future and continue its impressive growth story.”
The acquisition will allow Pinnacle to expand its service footprint across the North of England and Midlands as well as bolstering its business-to-business offer. It also enhances the company’s ability to deliver holistic seamless services to a broader range of communities in accordance with its commitment to community stewardship.
Established in 2001, AMSG is a Lancashire-headquartered business that employs 750+ people. It has a loyal client base with an impressive 96 per cent business retention rate.
AMSG’s Greg O’Brien, Managing Director; Ashley Kirk, Commercial Director; and Neil Cooper, Operations Director will all remain with the business to focus on continuing to deliver growth and service excellence. This senior management team will fully integrate the AMSG business with Pinnacle over the next 12 months. Current CEO and Founder Adrian Cresswell will be retiring from the company.
The acquisition provides AMSG’s existing and new clients with enhanced value through wider access to technical skills and innovative service solutions and will support Pinnacle’s existing plans to optimise new FM growth opportunities. This includes penetration of the large-scale UK catering market by building on AMSG’s recent landmark contract win with a leading Japanese multinational automotive manufacturer.
Peregrine Lloyd, Group Chief Executive of Pinnacle said of the acquisition: “Pinnacle prides itself on delivering the very best FM services and the acquisition of AMSG bolsters that further. Both organisations have enviable reputations for delivering consistently high levels of customer service. In tandem with shared customer-led service values, our joint track record of longstanding, trusted client relationships and recurring revenue, puts us in good stead for continuing to strengthen and grow Pinnacle.”
Adrian Cresswell, CEO and Founder of AMSG said: “After 22 years heading up AM Services Group, I have decided to retire from the company. It has been an amazing privilege to run and develop this business during my tenure and has given me immense pride. I would like to thank all the people that have helped me develop the business along the way, your dedication and commitment have been faultless. I am confident that Pinnacle and the AMSG management team will work well together, given that they foster the same commitment to delivering high levels of customer service and staff development. The aligning of these two companies offer many opportunities for those working within the business.”
Neil Fergus, Managing Director FM of Pinnacle added: “Pinnacle’s clients and customers will benefit greatly from this acquisition. Our wider geographical spread, broader FM service scope and ability to seamlessly integrate service provision across more FM sectors will ensure that Pinnacle remains top of its game. The technical expertise that AMSG will bring will ensure that we continue to innovate in terms of our service models to better meet client and customer needs.”