LDC Top 50 2024
Simon Abley
CEO
Obsequio
After selling their last business, Simon Abley and Simon Cashmore sat down to work out their next move. “We had spent 12 years on a buy-and-build, and learned so much,” says Abley. “We didn’t want to waste that. Within a year we were up and running with Obsequio.”
Abley had no experience in the compliance space – “I did a two-day fire training course to learn the basics!” he says. But in just four years, Obsequio has reached a turnover of £35m, acquiring eight companies along the way. “I’m really ambitious and driven,” Abley says. “I’m in this for the long-term. I love creating new things and developing people’s careers.”
I’m in this for the long-term. I love creating new things and developing people’s careers.”
Q&A
What made you start Obsequio?
In 2019, we spotted a gap in the market for a compliance services business. The industry was fragmented and traditional and we knew we could disrupt it by creating a high-quality, multi-service business using technology to give our customers total visibility and control. We acquired a small business in Leicestershire in 2020 and we started from there. Today, we provide comprehensive fire safety, suppression, water, energy, and security compliance services across the UK.
What are your ambitions for the business?
We will reach £6m EBITDA this year and we want to get to £10m by 2026. That’s not bad for a working-class boy from the Black Country. We plan to get to £10m by expanding our reach and doing more for current customers. We work with some incredible names, from the NHS to universities to Warner Brothers. Whatever happens in the world, businesses will always need compliance – this is a growth industry.
What do you love most about building Obsequio?
I started my career as an apprentice many years ago and I’m passionate about creating opportunities for young people. We have 17 apprentices in the business now and I’d like to reach a point where 20% of the workforce are apprentices.
Tell me about the dynamic between you and Simon?
We’ve worked together for over 20 years, having first met when Simon was MD of RAC Business Services, and I was his financial support. Over the last two decades, Simon has been instrumental in my professional growth as my career has evolved. Now, as CEO of this business, I continue to rely on his mentorship and unwavering support. We stay closely connected, often exchanging ideas even over the weekends.
