A business growth company has announced a £10 million investment in a Northampton property business.
The independent UK investment company, Business Growth Fund (BGF) yesterday announced its large investment into Northampton based property and landscape design business, TCL Holdings Limited (TCL).
TCL, who employ approximately 400 people, provide estate management and landscape installation, design and consultancy services to private and public sector organisations throughout the UK and their clients include large builders such as Barratt Homes and Persimmon Homes.
BGF’s financial injection is aimed at supporting a growth in TCL acquisitions alongside the increasing demand for housing across the country.
As part of the deal, BGF will take a shareholding in TCL and have appointed a chairman, Lakehouse Group’s Stuart Black, to the TCL Board.
TCL will also be supported by an £8.4 million debt funding package provided by mid-market companies supporter Investec Growth and Acquisition Finance.
Already forecast to turnover approximately £30 million this year, TCL was included in London Stock Exchange Group’s ‘1000 companies to inspire Britain’ in 2013.
TCL chief executive Simon Cashmore said: “We are delighted to have secured funding with long term partners to allow us to continue to build and develop TCL over forthcoming years 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.”
Investment Director Mark Freer who joins the TCL board on behalf of BGF commented:
“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.
TCL has created a recognisable branded service offering throughout the UK and we are delighted to be partnering with them.”
John Clifford at Investec Growth & Acquisition Finance commented:
“The successful growth of companies like TCL is vital to the on-going recovery of the UK economy and it is important that they have the right support in place to achieve that. We are excited to be working in conjunction with BGF on this deal supporting an exciting business like TCL.”