TDC-backed Keysource Group acquires GDM Building Consultants Ltd and 2bm

22/05/2024

Keysource Group, a TDC portfolio company, has acquired GDM Building Consultants LTD (GDM) and 2bm.

Founded in 1982, Gatwick-based Keysource Group is a leading critical facilities specialist that counts HM Treasury, Willis Towers Watson and Garmin as clients. It offers data centre solutions and strategic advisory services across the UK, EMEA, and the US. TDC invested in Keysource Group in December 2020 and has supported its growth ever since, supporting it in its acquisition of several other entities, including GDM and 2bm.

Also supported by TDC, Farringdon-based GDM is a multi-disciplinary consultancy, renowned for its MEP engineering, sustainability and facilities management solutions offering. 2bm is a specialist data centre and critical environment company that has been trading for over 20 years.

Over the last three and a half years, TDC has provided Keysource Group and GDM with the capital required to expand, develop their capabilities, and boost geographic reach, all while continuing to provide best-in-class service to clients.

Having invested in both Keysource Group and GDM, TDC was able to identify clear synergies between the portfolio businesses, helping to drive efficiency and allow the businesses to grow together through combining the two entities. The additional acquisition of 2bm further adds to the firepower of Keysource Group, expanding its global service offering.

With the support from TDC, the acquisitions also demonstrate the private credit fund’s ability to add value within its existing portfolio, helping clients to take advantage of new opportunities, whether growing service lines, adding new ones, or expanding business operations both nationally and internationally.

Keysource Ltd, GDM and 2bm, while still operating under their respective brands, will work under a Group structure to offer a comprehensive suite of services, from initial concepts to sustainable design, build, management, optimisation and more.

Stephen Whatling, Group CEO at Keysource Group, said: “Since TDC’s investment in Keysource, we have been able to fully realise the potential of the business which, with TDC’s support, is now further enhanced by the opportunities afforded to us by recent acquisitions.”

Gary Davison, Managing Partner at TDC, said: “It’s an exciting period for Keysource Group, with these latest acquisitions helping to further expand Keysource’s global reach and bolster its market leading datacentre service offering.

“Having invested into both Keysource Group and GDM, it became clear that the two businesses complemented each other well, so we identified the opportunity to bring GDM into the Keysource group, ultimately growing both businesses.

“Having now completed these latest transactions, we look forward to continuing our work with both Keysource Group and GDM, now as one trading entity, to continue adding value to both businesses and help them to achieve their strategic potential.”