MITIE, the strategic outsourcing and energy services company, has acquired a majority stake in access and disability consultancy company Direct Enquiries Holdings Ltd.
Direct Enquiries provides a range of services to major companies and public sector organisations, allowing them to minimise their risk and maximise the benefits of embracing equality. Direct Enquiries provides Part M and BS 8300 audits around access for disabled people, supported by compliance reviews covering fire risk and health and safety.
The company also operates free to use online directories, Directenquiries.com, Inclusivebritain.com and Inclusivelondon.com – the Mayor of London’s official information portal for the 2012 games and its legacy. These sites provide access information for people with specific access requirements such as disabled and older people and parents with children.
The acquisition provides a strong platform for growth in the compliance, risk assessment, disability and access industries, as well as providing significant cross-selling opportunities within MITIE’s existing service offering.
Direct Enquiries has an annual turnover of approximately £1.4m from a wide range of public and blue chip private sector clients, including John Lewis, Birmingham Children’s Hospital, Intercontinental Hotels Group and the Metropolitan Police. The initial consideration is £0.3m, paid in cash on completion, with further consideration payable in cash up to a maximum of £8.3m depending on financial performance over a five year period.
MITIE’s investment has been financed through its Entrepreneurs Fund and provides the management team with an incentive linked to future performance based on the MITIE model. More information on MITIE’s Entrepreneurs Fund can be found at http://www.mitie.com/entrepreneurs.
Ruby McGregor-Smith, Chief Executive, MITIE Group PLC, commenting on the acquisition, said: “We are all delighted to have acquired a majority shareholding in Direct Enquiries through our Entrepreneurs Fund. This acquisition demonstrates our continued commitment to and interest in disadvantaged groups, whilst recognising the increasing importance of building compliance legislation and risk management to our clients.”
UK, Bristol & Bracknell, Berkshire