UK early-stage investment firm BGF has provided £10m of growth capital to external property services business TCL Holdings.
The company provides estates management and landscape installation, design and consultancy services throughout the UK, with clients including Barratt Homes, Persimmon Homes and Redrow Homes.
TCL is forecast to turnover about £30m this year, and has consistently increased its turnover and EBITDA since 2009 despite the recession, a statement from BGF said.
BGF will take a minority stake in TCL through the deal.
Investment director Mark Freer, who will join the TCL board on behalf of BGF, said, “Our investment 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.”
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