Business Services


TCL Holdings


Business Growth Fund

Acquired By

TCL Holdings / Business Growth Fund

Cavendish Corporate Finance is delighted to have advised the shareholders of TCL Holdings on the £10.0 million investment received from Business Growth Fund (BGF) in return for a minority equity stake.

TCL was originally acquired via a BIMBO (buy-in / Management buy-out) in February 2007 through the support of Caledonia Investments plc. Since that time, TCL has evolved from a single site, Midlands based company to a national operator providing landscape services, estate management services and play services to housebuilders, property managers and corporate clients.

Through BGF’s investment and the debt funding package provided by Investec, Caledonia was able to completely exit its investment in TCL and provide the management team with sufficient growth capital to buy up smaller players in what is a fragmented market.

John Farrugia, Director at Cavendish, commented:

“TCL operates in an attractive niche of the property services market and its future growth is influenced by the market trends and performance of the housebuilding and commercial property sectors. TCL has created a recognisable branded service offering throughout the UK and is well placed to benefit from improved economic conditions and positive government housing policies and initiatives.”

Simon Cashmore, Managing Director at TCL, commented:

“TCL has performed extremely well over the last few years and is now ideally positioned to support increased demand from the UK property market.

Key Contacts

John Farrugia

CEO of finnCap Group Plc & Managing Partner of finnCap Cavendish

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Peter Gray


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