ICE has announced that on Friday 27 October it agreed to acquire 100% of the Reintec and TecServ business.
Trading as Reintec, the business has led the way since 2010 in equipment rental, offering flexible hire and repair of professional cleaning equipment. TecServ delivers expert maintenance services which support the Reintec product offering.
Mark Bresnihan, ICE's CEO, said: “This is the second acquisition for ICE in the last 12 months and represents a very exciting strategic opportunity for us going forward. Reintec shares our values, beliefs and aspirations - it too wants to transform the market and sees the same opportunities as we do to make that happen. The coming together of the organisations also means that our strength and depth on a national level in terms of field engineering and logistical support will be unrivalled. It allows our operation to become far less Southampton centric, delivering higher quality and stronger levels of service and support to our existing sales, hire and service customers.”
Today, as well as being the UK’s largest independent provider of cleaning equipment and associated services, ICE is a true and dedicated total equipment service business in the cleaning market, offering everything from equipment purchase or rental to asset management and maintenance, all supported by a commitment to a technological and innovative approach.
“This acquisition further strengthens the ICE market proposition, bringing complimentary capability and experience into the group," continued Bresnihan. "As a combined business, we have a platform for growth and an opportunity to create a truly market leading organisation.”
Reintec's managing director, Paul Lewis, who will take the role of chief commercial officer at ICE, said: “ICE is an extremely progressive business with a high degree of agility in both strategic development and investment, underpinned by a philosophy of building long term, strategic relationships and partnerships with like-minded organisations. ICE has spent 50 years building the business, ruthlessly focusing on customer delivery and innovation, and it has delivered sustainable growth in a tough competitive environment. This is a fantastic opportunity for Reintec, as it means focus and investment, which in turn will help us continue to support our customers.”
Reintec, TecServ and CES (acquired in December 2016) will now all be fully integrated into the ICE Group, and will all operate under four new ICE brands, which will come to market in the very near future.
A separate transition team has been deployed and ring fenced away from the day to day operations of all three businesses (ICE, Reintec and CES), to enable the existing teams to focus on business as usual and customer support whilst the organisations transition.