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.

“TC Group have a fantastic business model and brilliant management team, which combined with Inflexion’s sector and M&A experience, puts us in a great position to help accelerate its already impressive growth. We look forward to working with the team to seize the market opportunity together.”

Malcolm Coffin, Partner and Head of Enterprise Fund at Inflexion

“We are delighted to have found a perfect match to drive the growth of the Company we founded in 2005. After a rigorous sale process, we have no doubt that Davidson Kempner/Pithos Capital will continue to develop the Company as the UK’s largest independent self-storage provider and we look forward to following its progress.”

The finnCap Cavendish team, led by Nehal Patel, did a fantastic job, running a truly competitive process and managing the transaction with great skill. They were instrumental in delivering this deal and the successful outcome.”

Keith Taylor and Cathy Taylor, Co-Founders, UK Storage Company Ltd

“The finnCap Cavendish team did a great job of running a competitive process to establish the best transaction options available for our stakeholders. They were instrumental in delivering the Talan deal and were a pleasure to work with.”

Alex Goody, CEO, Gemserv

“The finnCap Cavendish team has achieved a truly outstanding result for our Shareholders. Their knowledge of our business, the sector and the buyer landscape, as well as their commitment throughout to the process, was critical to our success.”

Steve Beckitt, Founder-CEO, SourceBreaker

“I could not be prouder to be joining the Otonomo team. This is a big, bold step that brings us closer to our vision of safer and smarter mobility for all. Our clients and partners, some of the leading insurers of the world, will have access to a significant and unique set of data products, tools and resources to help them compete and thrive in a connected new world ahead.

We really appreciated Cavendish’s excellent advice, their understanding of the business and getting the best outcome for the company by driving the process.”

Aldo Monteforte, CEO of The Floow

Over the last 16 years, we’ve grown to become the biggest search firm in the world dedicated to executive search in sports and entertainment, working in partnership with brands and wonderful clients across more than 20 countries and in every major sports league. Today, we join with Excel, enhancing our ability to see our clients achieve their fullest potential both on and off the field.

The finnCap Cavendish team played a critical role in helping us to secure the right partner and home for our business. The team’s recruitment sector expertise and commitment throughout the deal was second to none, I would have no hesitation in recommending them to other business owners considering M&A.”

Paul Nolan, Founder-CEO, Nolan Partners

“I have loved working with Andrew, Ben and Hugh at Cavendish! Hamilton Fraser is more than just a company to me. For me to sell, any deal had to deliver value but also see the business find a great new home. Cavendish always listened and provided their advice on these points and how best to achieve what I was looking for. I am delighted to have found the perfect partner in GRP with their support.”

Eddie Hooker, CEO, Hamilton Fraser

“We are delighted with the support received from the finnCap Cavendish team throughout this process. Mike and the team ensured that we prepared meticulously, identified the right pool of potential investors and worked closely with us, the management team and our legal advisers to deliver a great outcome for the Shareholders. We wish the Intelling team and RDCP all the best in their next phase of growth.”

Karl Cockwill, Portfolio Director, NVM

“This transaction is a hugely important step in the company’s development, strongly positioning the business for its next phase of growth, allowing us to meet the growing need for secondary school students to learn in an independent, fluid and remote manner.”

Anthony Coxon, Co-Founder, GCSEPod

“Cortland shares our core values and our customers focus, and their additional resources will help us accelerate our growth in the UK market.”

Nigel Burnand, Managing Director, Qdime