Offshore facilities services provider Prospero Holdings Limited has taken over Isle of Man based Strand Group. The deal, for an undisclosed sum, takes immediate effect.

Established in 2004 in the Isle of Man, Prospero Holdings is a leading facilities services and maintenance provider with offices in Jersey, Guernsey and the Isle of Man.

Strand Group is made up of Strand Facilities Services, the largest commercial cleaning company on the Isle of Man, document management business Storall, commercial refuse collection business Clean A Way and long-established brand, Krypton Cleaning Services.

James Pettigrew, Prospero's Managing Director, said, 'I'm delighted to have acquired Strand Group and to be adding such a prestigious business to the Prospero Group. I've been an admirer of Strand Group for a number of years, the business has such a great history and it is comfortably the largest soft services provider on the Isle of Man. Historically, the hard services side of Prospero's business has been a lot larger than the soft services side but this acquisition brings that into balance. We are now truly a one-stop shop for clients for all their facilities services needs and this will undoubtedly provide many opportunities for further growth. There are a number businesses which operate on all three Islands and for us to be able to offer both hard and soft services throughout the Isle of Man and the Channel Islands is a significant business advantage.'

John Hellowell, Chairman of Strand Group, founded the business in 1988. He said, 'We are really pleased that Prospero and Strand are joining forces. There were obvious synergies in bringing the businesses together. We have a strong management team and a dedicated workforce. James Pettigrew has spent the last few days getting to know our directors and managers and meeting as many of the team as possible. It really is business as usual as far as our clients are concerned. We run a lean and efficient business so there are no job losses to consider, as there is little overlap in the takeover.' Mr Hellowell will be involved in an advisory capacity to ensure a smooth handover and will retire later in the year.

Gill Young, Strand Group's Finance Director and Company Secretary, has been involved with the business from the start and she will also stay on in the short-term and retire later in the year.

Prospero will move into Sailmaker House, Strand Group's purpose-built 18,000 square feet HQ just outside the Isle of Man's capitol, Douglas. The new Group now employs in excess of 200 people. 'Strand Group is a perfect fit for us and I'm looking forward to working with the management team to continue the success of our businesses and I'm sure some very exciting times lie ahead,' said Mr Pettigrew.

Visit www.strandgroup.im for additional information about Strand Group.