Business Growth Fund backs Nationwide Window Cleaning with £3m
Growth capital investment will expand fleet for fast-growing window cleaning business
The Business Growth Fund (BGF) today announced the completion of a £3m investment in Nationwide Window Cleaning (NWC), capping a period of strong growth for the window cleaning business.
Founded in 2009 by current managing director Thornton Tasker, NWC provides window cleaning and associated services to universities, hospitals, retailers and other large commercial businesses.
Since foundation the Harrogate-based company has seen rapid growth, with turnover now approaching £10m and clients including RBS, Asda and the British Museum.
BGF’s £3m investment will allow the company to expand its fleet and fund new hires in its abseiling and specialist cleaning divisions, where it says it has experienced particularly strong demand. NWC said its ultimate target was to achieve a fivefold increase in revenue over the next seven years.
As part of the deal, managing director of Altium Capital and former CEO of window manufacturer Stuart Lees will join the NWC board as non-executive chairman.
Thornton Tasker, managing director of NWC, said: “NWC is a truly national service provider offering a managed quality service with high visibility through leading edge IT. This is the right time to expand. Demand for our range of national specialist services continues to gain momentum and we are in a strong position to grow this part of the business.
“We are delighted to be partnering with BGF. In addition to the investment, we value the insight and experience of its investment team as well as our newly appointed Chairman, Stuart Lees.”
Andy Gregory, regional director for the North of England and Northern Ireland at BGF, added: “This is the 63rd growth capital investment made by BGF in UK companies, and the 12th investment made in companies headquartered in the north of England.
“Our aim is to work with enterprises that span a diverse range of industry sectors, and as such, we are delighted to be working with NWC.”