Office and facilities supplies reseller Banner have announced the new acquisition of cleaning and hygiene solution business Subec Wiping Solutions.
In a move to enhance their cleaning and hygiene category, Banner have acquired Subec Wiping Solutions – known as one of the UK’s leading suppliers of hygiene products. Subec currently offer a vast range of specialist wiping, cleaning and sanitary products. Products in these ranges include hand soaps, sanitisers, paper disposables and specialist cleaning items. Recording revenues of more than £1.1 million over a 12-month period for the last four years, Subec will continue to operate from it’s current site and will trade under its current name as part of the acquisition terms.
A Welcome Addition
Speaking about the new acquisition in further detail, Managing Director of Banner, Craig Varey, spoke of the growth opportunities that could be developed from the deal. “Having experienced considerable growth since it’s foundation and having established a prominent reputation within it’s industry, Subec and Banner together form a union that leaves us ideally positioned to pursue further growth and significantly increase our turnover.”
Adding further comments on the deal between Banner and Subec Wiping Solutions, Deal Executive at KBS Corporate, Julie Doyle added: “I have enjoyed working with both parties and wish them well going forward. I think the acquisition will be a success and I’d like to thank both parties for their co-operation throughout the process.” Also confirmed in the acquisition was an agreement that shareholders at Subec will remain at the company, to oversee any changes and to support further growth opportunities.
Cleaning and Hygiene Category
The Cleaning and Hygiene category is an important one for many facilities solutions companies. In 2017, Cleaning and Hygiene products accounted for an estimated £6.5 billion in business customer sales. This was following an estimated spend of almost £6.3 billion by the same market in 2016. The sector also demonstrated the most growth throughout most markets in 2017, with an increase in the healthcare sub-category.