Gresham invests in Jackson Lloyd

Guy
19 September 2005

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Gresham has provided a financing package of ТЃ31m for Jackson Lloyd to support its future growth. Jackson Lloyd is a fast growing provider of maintenance services to local authorities and housing associations in the North West with its head office based in Wigan. Gresham is backing Bill Lloyd, the existing CEO and the current management team including Dennis and David Cleary. All senior management have bought into the equity of Jackson Lloyd.

The opportunity to invest in Jackson Lloyd was brought to Gresham by Clearwater Corporate Finance. Mark Blower of Lloyds TSB Acquisition Finance provided a debt package to support the transaction.

This investment in Jackson Lloyd is a further example of Gresham’s commitment to support services companies with over 50% of recent investments completed in this sector. Existing Gresham support services portfolio companies include Flowtech, 2e2 and Pims.

Jackson Lloyd’s services typically involve responsive repairs and planned maintenance of social housing in the North West of England. It also undertakes significant maintenance work in the schools and local authority sector from working with joint venture partners. Jackson Lloyd currently services 30,000 properties; processes and completes over 150,000 jobs each year, attends emergency call outs on time in over 98 percent of cases.

In the North West alone, the social housing maintenance market is worth over £1bn. The market is growing in response to government initiatives aimed at providing higher quality services and housing to local authority and housing association tenants and at modernising procurement. Unlike many of the smaller service providers, Jackson Lloyd has the regional capabilities, depth in management, systems and processes to meet the growing future requirements of the North West housing associations.

CEO Bill Lloyd and his team will use the support of Gresham to pursue the company’s ambitious growth plans. The transaction will widen Jackson Lloyd’s shareholder base and achieve a partial equity release for existing shareholders.