Sure Maintenance

Sure Maintenance, the rapidly-growing heating maintenance service supplier, took care of its future growth by receiving a replacement and expansion capital package.

Sure Maintenance provides gas safety checks, responsive repairs and installation services to social housing landlords through long-term partnering contracts.

The company - acquired by Finnish-born businessman Heikki Viitikko through a 2001 management buy-in – was completing more than 250,000 jobs each year from its Liverpool and Manchester offices.

Clearwater’s advice resulted in private equity house Graphite Capital providing a package of replacement capital and expansion. The creative deal structure achieved a partial equity release for existing shareholders, and widened the company’s shareholder base.

On Clearwater's advice, Viitikko said:

“Clearwater stood apart from the other advisors during the selection process and excelled even more during the delivery of the deal… I certainly know which door to open next time when I need assistance to sell or buy a business or secure development capital."

Since the deal, Sure Maintenance has bought another business in Birmingham and established an office in the Midlands. This is part of a buy- and-build plan to create a business with a national footprint.