Regent Acquisitions Limited has agreed to a £90.56 million cash offer to acquire TClarke, a major player in the UK’s building services sector. This deal encompasses the entire issued and to be issued share capital of TClarke, valuing the company’s shares at approximately £90.56 million.

Established in 1995 and led by CEO Deep Valecha, the Wider Regent Group is a prominent supplier of gas and metering services across various sectors including leisure, care homes, manufacturing, food production, and retail. This acquisition is in line with Regent’s strategy to expand its presence in sectors showing structural growth, similar to those operated by TClarke.

TClarke operates from nineteen locations across the UK, focusing on organic growth within five core market sectors: engineering services, technology, infrastructure, residential and hotels, and facilities management. The company has a portfolio of numerous landmark projects, including iconic skyscrapers, mixed-use developments, and significant infrastructure upgrades.

Regent has announced that there will be no headcount reductions nor changes to the business and employment conditions at TClarke and its subsidiaries following the acquisition.

The completion of the deal is contingent upon several conditions, including the approval of TClarke shareholders and court sanction, with expectations to finalize by the end of the second quarter or early in the third quarter of 2024.

Deep Valecha expressed his admiration for TClarke, stating, “TClarke is a business we have long admired since we started to invest in 2018. We intend for TClarke to continue its operations as they have been, supporting the management team to strengthen the balance sheet and pursue further growth and innovation.”

Iain McCusker, chairman of TClarke, shared his approval of the agreement: “After careful consideration and extensive discussions, I am pleased that the TClarke board has agreed to recommend that our shareholders accept the offer made by Regent. The terms of the offer present an opportunity for TClarke shareholders to realise an attractive premium on the current share price. Together with Regent’s support, we look forward to achieving even greater success in the future.”