Foresight continues rapid succession of deal completions with Tudor Contract Cleaners Limited

  • Foresight invests in soft facilities management provider Tudor Contract Cleaners
  • The deal is the seventh to be completed by Foresight Private Equity in the lead up to Christmas
Foresight Group ("Foresight”) continues its streak of deal completions with an investment into soft facilities management provider Tudor Contract Cleaners Limited ("Tudor” or "the Company”).
 
To view or read this announcement as a pdf please click here
 
The investment is the seventh deal from the Private Equity team in the eight week lead up to Christmas, an unprecedented volume in the short time frame.
 
Based in Manchester, Tudor has three core service offerings of window cleaning, general cleaning and ancillary cleaning. The Company has over 100 customers in the North West of England including Transport for Greater Manchester, Hilton, Radisson and Marriott, with several looking at national contracts.
 
To support the current Managing Director, Tony Camilleri, and General Manager, Joanne Youd, the team will be bolstered by a Non-Executive Chairman, David Steventon, who has worked with Foresight on previous investments and a financial director is also being recruited.
 
Claire Alvarez, Senior Investment Manager, Foresight, commented:
 
"The investment into Tudor is another exciting opportunity to support a high growth company at the heart of the Manchester community. Tudor is a business renowned for their service, reliability and customer-focus and we are looking forward to working with management to expand contract regions and maximise the exciting opportunities that exist for the Company.”
 
Tony Camilleri, Managing Director, Tudor Contract Cleaners, commented:
 
"The amount that Tudor has grown since inception is incredible, having started with a contract at just one hotel and now servicing clients in a number of major UK cities. With Foresight’s help the doors are open for the company to grow exponentially above and beyond what was previously possible and I very much look forward to working with the team to ensure this happens.”
 
Advisers on this deal included:
 
Company Advisors: CLB Coopers – Andy Feeke, Peter Williams Kuits – Kirsti Pinnell
 
Financial Due Diligence: BDO – Chris Heatlie and Wayne Causon
Legal Due Diligence: Shoosmiths – Kieran Toal, Damien Brown, James Skivington
Commercial Due Diligence: RPL Ltd – Roger Penney
Management Due Diligence: The Quinn Partnership – Paul Quinn
Banking:   Royal Bank of Scotland, Corporate transactions Team – Stuart Watson, Peter Lloyd
 
END
 
For further information, please contact Annabel Arrowsmith, Foresight Group
aarrowsmith@foresightgroup.eu / 020 3667 8179
 
Notes for editors:
 
About Foresight Group LLP ("Foresight”):
 
Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 30 years.
 
Foresight has £2.2 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs) and Venture Capital Trusts (VCTs).
 
Foresight’s Private Equity team, comprising sixteen investment professionals, invests between £1m and £5m in management buy-outs, management buy-ins and growth capital investments in UK SMEs.
 
www.foresightgroup.eu