BGF invests £10m in TCL

The fresh capital will be used to support the company's organic and acquisitive growth. The deal sees BGF picking up a minority stake in the business.

Debt
The investment was supported with an £8.4m debt package provided by Investec Growth & Acquisition Finance.

Company
TCL provides estate management and landscape installation, design and consultancy services to private and public sector groups across the UK.

The company operates under three brand names: TCL Landscapes (landscape consultancy); Clean Estates (estate management services for commercial properties); and Admiral Play (design, consultancy and installation of play facilities to schools and local authorities).

Clients include UK house builders Barratt Homes, Persimmon Homes and Redrow Homes and managing agents such as Jones LaSalle, CBRE and Savills.

Headquartered in Northampton, TCL employs 400 people. The business expects to turn over £30m in 2014.

People
As part of the deal, BGF has appointed Stuart Black from its Talent Network as TLC's chairman. Black is currently executive chairman of Lakehouse Group and former CEO of Mears Group.

The transaction was led by BGF investment director Mark Freer and investment manager James Syrotiuk.

Simon Cashmore is CEO of TCL. John Clifford led the deal for Investec.

Advisers
Equity – Browne Jacobson (Legal); Mazars (Financial due diligence).
Company – EMW Law (Legal); PwC (Tax).
Debt – Taylor Wessing (Legal).

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• Topics
• UK / Ireland
• Expansion
• BGF (Business Growth Fund)
• Investec