Godfreys hoovers up The Service Company for $2.7 mln

Thu, 11 Feb 2016

By Paul McBeth Feb. 12 (BusinessDesk) - Australian vacuum cleaner firm Godfreys Group has bought New Zealand commercial cleaning firm The Service Company (TSC) for $2.7 million as it seeks to build up the business in a highly fragmented market. The Victoria-based company will fund the acquisition through a bank loan and is expected to deliver immediate benefits, Godfreys said in a statement to the ASX yesterday. The Australian company has been hunting for an acquisition in the commercial cleaning space since last year before settling on...

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