Northampton property services business TCL Holdings lands £10m BGF-backing
Investment to support company’s growth in the UK property market
Property services specialist TCL Holdings (TCL) has become the latest company to join the Business Growth Fund’s (BGF) investment portfolio; closing £10m to fuel organic and acquisition-led growth.
Headquartered in Northampton, TCL operates across three divisions; estate management; Clean Estates, landscape installation; TCL Landscapes, and design and consultancy; Admiral Play, working with private and public sector firms across the UK.
The company has accrued clients such as Barratt Homes, Savills and Redrow homes, built a team of 400 employees, and is forecast to turnover £30m for 2014.
The deal, which sees BGF take a minority shareholding and add Stuart Black and Mark Freer to TCL’s board on its behalf, will be used to increase the property firm’s position in the UK property market.
TCL chief executive, Simon Cashmore, explained: “Despite the economic headwind, TCL has performed extremely well over the last few years and is now ideally positioned to support increased demand from the UK property market.”
“We are delighted to have secured funding with long term partners to allow us to continue to build and develop TCL over forthcoming years.
Mark Freer, who has joined the TCL board on behalf of BGF, continued:
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“Our investment in TCL is a great opportunity to back management to continue the company’s excellent growth story in an increasingly favourable market environment. Our funding is well suited to accelerate this through further strategic acquisitions in the sector and also through organic growth.”