RCapital backs Summit and Hotelcare

The amount of equity injected by RCapital remains confidential but the firm is understood to typically invest in deals valued below the €25m mark. RCapital's work on the deal was coordinated by CEO Jamie Constable and investment director Chris Campbell.

Founded in 2000, Summit is a consultancy providing online marketing technologies and services to retailers. With a workforce of 120 professionals, its client base includes Argos, Homebase, Selfridges and Made.com. The business is headquartered in Kingston-Upon-Hull and operates additional offices in London (where its sales and marketing team is based), Paris and Prague.

The consultancy, which had invested in digital technology prior to RCapital's involvement, now intends to use the firm's support to apply the new platform to its day-to-day operations.

With headquarters in London, Hotelcare was created in 1992 as a provider of cleaning and other services to the hospitality industry. Its 3,000 staff take care of more than 30,000 rooms across 180 hotels in the UK. The company is understood to have generated revenues in the £25-50m range in 2014.

The investment in Hotelcare follows a management buy-in for the business in 2014. With RCapital as shareholder, the hotel support services provider will look to train its workforce and expand via external acquisitions. Growth is expected in the coming years as the hospitality sector undergoes consolidation and establishment owners turn to outsourcing to cut down costs, according to RCapital.

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• Topics
• UK / Ireland
• Expansion
• Support services
• United Kingdom
• RCapital