ESO backs facilities service Churchill

Katharine Hidalgo
17 March 2020

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ESO Capital has invested in business services provider Churchill Group.

The firm will take a minority stake in the company, while partners Stephen Edwards and Stuart Hamilton will join its board. ESO also provides debt financing for its portfolio companies.

The company expects to organically grow and follow a buy-and-build strategy following the investment.

This is the third transaction completed from ESO's latest institutional fund, ESO Fund VII, which has yet to hold a final close and was registered in May 2019, according to Unquote Data.

Current executive directors Joel Briggs and Phil Moxom will continue to lead the company.

Company
Founded in 1988, Churchill provides businesses with cleaning, security, catering and environmental consultancy services across the education, rail and transport, public sector, corporate and property management sectors. Based in Harpenden, the company now reports annual revenues in excess of £230m.

People
ESO Capital – Stephen Edwards (partner).
Churchill Group – Joel Briggs (executive director).

Advisers
Equity – Pinsent Mason (legal); Teneo (commercial due diligence).
Company – Grant Thornton, Kelly Woodley (corporate finance); RSM (financial due diligence); Shoosmiths (legal).