Lyceum's Bellrock in bolt-on streak

Amedeo Goria
19 September 2016

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Lyceum Captial-backed Bellrock has acquired Concerto, Stanley Hicks, Property Solutions, Dawn Group and RBK Mechanical.

The private-equity-backed business has acquired ventilation company RBK Mechanical, chartered surveyor Stanley Hicks, software developer Concerto, facilities management business Dawn and commercial consultancy Property Solutions.

The acquisitions follow the GP's buy-and-build strategy, put in place to boost the company's expansion internationally. According to a statement, the bolt-ons will allow the company to expand its business, as well as broaden its range of services and customers. Moreover, the GP plans further bolt-on acquisitions to bolster Bellrock's expansion.

As part of the deal, the companies will continue operating under their brands and their products will be integrated into Bellrock's operational platform, which provides building and property management services for the corporate, public, retail and hospitality sectors across the UK and Ireland.

Previous funding
Lyceum acquired the facilities management division of AIM-listed Johnson Service Group for £32.2m in August 2013, which subsequently rebranded to Bellrock in January 2014.

Company
Established in 2004 and headquartered in Cheshire, Concerto produces software for the facilities, property and asset management sectors.

Property Solutions is a Bristol-based properties consultant firm established in 1992.

London-based Stanley Hicks offers commercial property advisory services. The firm was founded in 1889 and in 2002 merged with UK's surveying firm Fuller Horsey Wills.

Dawn was established in 1972 and is headquartered in Glasgow. The business provides facilities management across the real estate sector.

Founded in 2012, RBK Mechanical is headquartered in Gillygate Pontefract, West Yorkshire, and offers heating ventilation and air-conditioning maintenance.

People
Lyceum Capital – Jeremy Hand (managing partner).
Bellrock – David Smith (CEO).
Concerto – Kevan Davey (managing director).
Property Solutions – Andrew Morley (managing director).
Dawn Group – Alan Macdonald (chair).