Adquin supports Perenia in the acquisition of Poppies Sheffield
We are pleased to announce that Adquin supported Perenia, the holding company of ETA-Entrepreneur Domonkos Bobak, in the acquisition of Poppies Sheffield Ltd.
Poppies Sheffield provides premium-segment domestic cleaning services in South Yorkshire, operating under the Poppies franchise. Since the pandemic, the branch has grown strongly, with revenue more than doubling.
The acquisition was structured as a succession solution. The previous owner built the business over several decades, growing it to 37 employees, and was looking for a new owner to take it into its next phase. Domonkos Bobak, searching for ETA opportunities in the UK, found Poppies Sheffield to be the right fit: a stable, well-run business with a supporting network and further room to grow.
Our Contribution
Adquin developed a structured view of the UK facility management market, stress-tested valuation assumptions, and conducted a detailed review of the underlying financials with him at each key stage of the deal.
Throughout the process, we supported Mr. Bobak as a sparring partner, providing him with an independent perspective to test his thinking at each decision point.
The Value We Deliver
For a first-time buyer, this represented a significant strategic commitment. An independent perspective on market positioning and deal economics gave Mr. Bobak the conviction to proceed on favorable terms.
The transaction illustrates the fundamentals of a well-executed ETA deal: a clearly defined thesis, rigorous preparation, and disciplined execution through to close.
Transactions of this nature reflect a broader trend. As business owners across Western Europe and the UK approach retirement in increasing numbers, demand is growing for buyers committed to building on what has already been established. Adquin partners with individual entrepreneurs pursuing Entrepreneurship Through Acquisition (ETA), alongside strategic acquirers and financial sponsors, to support exactly this kind of transition.
If you would like to learn more about the partnership or our way of working, we’d be happy to talk.
Frequently Asked Questions
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It is a process by which an individual acquires and operates an existing, profitable small or medium-sized business, as an alternative to founding a company or pursuing traditional corporate employment. It has become an increasingly established path for entrepreneurs seeking direct operational leadership from day one.
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Adquin helps ETA searchers by providing them with market research, engaging in outreach, and acting as a sparring partner throughout the entire process. Adquin also runs buy-side mandates that identify acquisition targets on behalf of searchers.
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A large share of business owners in Western Europe are approaching retirement age without an internal successor. This is creating a steady supply of stable, well-run companies that will change hands over the next decade, largely to outside buyers. For more information, please reach out to us.
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Adquin works with strategic acquirers, financial sponsors (Private Equity and Family Offices), and entrepreneurs pursuing ETA (Entrepreneurship Through Acquisition) on buy-side mandates in the lower mid-market in Europe and North America. Additionally, we provide fully tailored sell-side M&A services to business owners.