BGF backs TCL's bolt-on of Playforce

The deal marks the business's third bolt-on since BGF's first investment, having acquired Burleys in June 2014 and ALS in August 2014. It also brings the GP's total investment in TCL to £15.1m.

The acquisition forms part of TCL's strategy to widen its range of outdoor consultancy services to the building sector. The company stated it was looking to take advantage of new opportunities within the education sector, resulting from a transfer of purchasing powers from local authorities to schools.

TCL stated it was on course for a turnover of £45m this financial year, up from £22m when BGF first invested less than a year ago.

Previous funding
BGF made a £10m growth capital investment in TCL in May 2014. The investment was supported by an £8.4m debt package provided by Investec Growth & Acquisition Finance.

Company
Founded in 1998 and headquartered in Melksham, near Bath, Playforce designs and installs outdoor play areas in schools.

People
Mark Freer, an investment director at BGF and board member at TCL, led the deal alongside BGF investment manager James Syrotiuk. Simon Cashmore is chief executive of TCL.

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• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom
• BGF (Business Growth Fund)