Browne Jacobson has completed its second investment deal for the Business Growth Fund (BGF) following its £10m growth capital investment in TCL Holdings, a Northampton-based estate management and landscaping business.
BGF’s £10m growth capital investment will support the company’s organic and acquisition–led growth in an increasingly favourable market. TCL will also be supported by an £8.4m debt funding package being provided by Investec Growth & Acquisition Finance, who works with entrepreneurs, management teams and investors to provide finance to UK mid-market companies.
TCL is a leading provider of estate management and landscape installation, design and consultancy services to private and public sector organisations throughout the UK.
Headquartered in Northampton, the Group employs over 350 people across six UK offices. Its clients include, amongst others, Barratt Homes, Persimmon Homes, Gallagher Estates, Crest Nicholson, Jones Lang LaSalle, Savills and CBRE.
The Browne Jacobson team consisted of corporate lawyers Mike Jackson and Gavin Cummings and the firm’s head of banking Paul Ray.
In March this year the team advised BGF on its £2.8m investment in Rutland Cycling – one of the UK’s leading independent cycle retailers.
Mike Jackson said:
“We were delighted to assist BGF with its continued investment in the Midlands and to assist TCL to secure funding with a long term partner who will support TCL and continue its growth story”.
The Business Growth Fund was set up in 2011 to help small and medium sized growing business with a turnover between £5m-£100m with investment growth capital. Operating through a seven office regional network BGF has invested over £250 million worth of growth capital in 48 companies from 17 sectors. Business Growth Fund is backed by five of the UK’s main banking groups – Barclays, HSBC, Lloyds, RBS and Standard Chartered.
