BGF invests £5.5m in NWC and High Access merger

Kenny Wastell
09 May 2018

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BGF has invested ТЃ5.5m in the merger of UK portfolio companies Nationwide Window Cleaning (NWC) and High Access Maintenance.

Following the deal, the consolidated group will be known as NSS Group and will generate a turnover of £30m, according to a statement issued by the GP.

According to the statement, NWC has increased its revenues by £10m since the GP first invested, opening new headquarters and an operational base in Crayford. It has also undertaken an acquisitive growth strategy, most recently bolting on Superior Window Cleaning and Reflekt Cleaning Company in 2017.

Since BGF's initial investment in High Access, the company has bolted on Outreach Access and AA Access. In the process, it expanded its services to include vehicle hire for film, TV and major sporting venues.

High Access CEO Niel Bethell will take on the role of CEO in the group, with NWC founder Thornton Tasker taking on the role of executive chairperson.

Previous funding
BGF invested £3m in NWC in October 2014 to allow the company to invest in new equipment and expand its abseil and other specialist cleaning teams. The GP then invested a further £1.5m into the company in October 2017 to support the bolt-on acquisition of Reflekt.

BGF originally invested in High Access in July 2016 when it provided the firm with £3.3m to support its nationwide expansion strategy. The firm then provided an additional £1m of follow-on funding in December 2017 to fund the expansion of the company's fleet.

Companies
Founded in 2009 and headquartered in Leeds, NWC is a provider of window cleaning services to businesses including universities, hospitals and retailers.

High Access was founded in 2005 and is headquartered in Altrincham, Greater Manchester. It provides building, roof and gutter maintenance to the commercial property sector. It also provides safety system testing and glazings, coatings, and access machinery hire.

People
BGF – Stephen Welton (CEO); Neil Inskip, Rhys Davenport (investors).
NSS Group – Niel Bethell (CEO); Thornton Tasker (executive chair).

Advisers
Equity – Shoosmiths (legal).
Company – BDO (tax).
Management – TLT Solicitors (legal).