React Group PLC 3-Year contract with a leading FM firm (5116W)
26 Abril 2021 - 1:00AM
UK Regulatory
TIDMREAT
RNS Number : 5116W
React Group PLC
26 April 2021
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26 April 2021
REACT Group plc
("REACT" or the "Company")
Contract win
3-Year contract with one of the world's leading facility
management firms
REACT Group plc, (AIM: REAT.L), the leading specialist cleaning,
hygiene and decontamination company, is delighted to announce it
has been awarded a material new three-year contract to supply a
full range of reactive cleaning and decontamination services to one
of the world's leading facility management companies.
The contract represents a material increase in business with one
of REACT's existing customers to provide cover to a portfolio of
over 2,000 site locations throughout mainland Great Britain and
specifies REACT as the Core Vendor, or vendor of choice. This award
is part of the customer's strategy to consolidate supply chains in
this category of work, from several hundred smaller suppliers to
just one.
The contract will take time to reach maturity while the customer
transitions a vast portfolio of locations, which are currently
serviced by other suppliers. REACT have been gearing up to take on
this additional commitment and is well placed to support the roll
out of both local customer engagement and rapid service
delivery.
Although difficult to pinpoint the exact revenue value of the
contract given the reactive nature of the work and the time
required to transition local and regional relationships from their
current suppliers, the customer has historically spent in the
region of GBP2 million per year on this specialist category of
work, a figure that has expanded further due to COVID-19 and the
result of the customer's own success in growing its portfolio of
clients. REACT has commenced providing services under the contract
with immediate effect.
Shaun Doak, Chief Executive Officer, commented :
"We are delighted with the award of this contract. As a team, we
work hard to impress our customers with the range, quality and
speed of our services. The award of this contract is this
customer's response to our efforts and recognises the uniqueness
and value of REACT's specialist cleaning proposition.
The award also highlights the potential for further
consolidation in the specialist cleaning industry, one where we
believe REACT is fast becoming the go-to choice for customers that
need rapid delivery of a suite of specialist cleaning capabilities,
nationwide."
For further information:
REACT Group plc Tel: +44 (0) 798
Shaun Doak, Chief Executive Officer 222 000 1
Allenby Capital Limited (Nominated Adviser Tel: +44 (0) 203
and Broker) 328 565
Nick Athanas / Liz Kirchner (Corporate Finance)
Amrit Nahal / Tony Quirke (Sales & Corporate
Broking)
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END
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