Sunday, March 3, 2024

Leeds-based private equity house invests in property services provider

Leeds-based private equity house Key Capital Partners has completed a £9.1m investment in SJA Group, an integrated property services provider. The deal sees Key acquire a significant minority stake in the business.

SJA was established by Adrian Deane and Sam Prett in 2010, based in Sidcup, Kent. SJA’s core services include interior and exterior cleaning and front-of-house concierge services to commercial landlords and tenants.

The Group’s vertically integrated proposition was established through the acquisition of Regency Real Estate in 2020, enabling the group to provide managing agent services to property owners.

The subsequent inception of Enecto in 2021 broadened the Group’s offering into hard facilities management, including mechanical, electrical and building services. Through the vertically integrated model, the Group provides an end-to-end property management service to its clients.

Key were advised by Addleshaw Goddard (Legal), HMT (Financial and Tax), RPL (Commercial), Evolve (Technology), AON (Insurance) and Stratton HR (Management). SJA’s shareholders were advised by Azets (Corporate Finance and Tax), and DWF (Legal).

Partner James Excell said: “We are excited to partner with SJA. The team have built a highly competitive end-to-end service offering to meet the increasing demands from commercial property clients. The market in which the Group operates in is large and possesses credible growth opportunities, which were key considerations for our investment.”

The highly experienced management team, led by Adrian Deane (co-founder), Sam Prett (co-founder), Phil Dale (CEO of Regency), Sam Stokes (COO of Regency), Alan Sillince (Enecto operations director) and James Lyons (SJA operations director) will remain in the business and be supported by incoming non-executive chair, Colin Dobell, who formerly founded the Care & Custody division within Mitie plc.

Co-founder, Sam Prett said: “On behalf of the SJA Board, we are delighted to be partnering with Key. Their understanding of SJA’s business model and strong cultural fit with the team were important considerations when choosing them as our investment partner.

“Key share our passion for providing high-quality services and their track record of supporting high-growth SMEs leaves SJA Group well positioned to capitalise on future growth opportunities.”

This is the sixth Investment from KCP IX and the third in integrated property services, following previous investments in Total Integrated Solutions and Smarter Services.

Key Capital invests between £4 – 20 million in UK based SMEs, supporting founders and owner-managers grow their businesses.

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