RCapital invests in Giffen Group

RCapital has taken a majority stake in Giffen and its four operating divisions; prior to that, the company had been controlled by the Giffen family for 105 years. Chairman Jonathan Giffen will be retiring from the business following the deal.

RCapital aims to financially restructure struggling businesses by forming partnerships with management and rebuilding operations. The fresh capital will be utilised for Giffen's growth and expansion in the rail market and management retained their existing shareholding percentages.

2014 has seen RCapital also complete the acquisition of Shopacheck Financial Services for an estimated €2.72m, according to unquote data", and invest in instrumentation and monitoring specialist ITMsoil.

Company
Founded in 1909, Giffen carries out engineering work on behalf of clients including London Underground and Network Rail, most recently working on upgrading stations on London's City Thameslink line.

Headquartered in St Albans and employing 150 staff members, the company has grown to cover four specialist operating divisions: rail, underground, electrical & mechanical and switchgear. It is understood that Giffen's revenues are around £20m.

People
Jonathan Giffen is the outgoing chairman of Giffen. Jamie Constable is the CEO of RCapital. RCapital's John March joined Giffen's board of directors as chairman.

Advisers
Equity – Radcliffes LeBrasseur, Stephen Blair (Legal); Turnpoint Plus, Simon Owers (Financial due diligence).
Management – Debenhams Ottaway, Patrick McGrath (Legal).
Vendor – Sherrards, Leigh Head (Legal).

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• Topics
• Expansion
• UK / Ireland
• Industrials
• United Kingdom
• RCapital