Thermotec

Thermotec

Type: Equity Release

Total Originally Invested: £2.5 million

Initial Investment: August 2013

Sector: Business Services

Website: View Here

Overview

Thermotec, through its two divisions, provides hard facilities management services including, designing, installing and maintaining customised air conditioning and fire sprinkler systems for retail, commercial and residential properties.

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Company Background

Thermotec, founded in 2008, is a Hard Facilities Management provider, designing, installing and maintaining customised air conditioning and fire sprinkler systems for retail, commercial and residential properties. Thermotec addresses the £5.3bn UK Fire and HVAC markets with a network of engineers across the UK enabling them to address its nationwide customer base. Thermotec Group consists of; Thermotech Fire Protection and Ashvale Fire Services, both national fire protection and solutions companies specialising in fire sprinkler and alarm solutions for some of the largest names on the high street, TAC Mechanical Services and Forrest Engineering, both of which specialise in HVAC and mechanical services, and Thermotech Energi a renewable energy solutions provider.

Foresight Investment

Foresight VCT and Foresight 4 VCT invested £2.5 million in a combination of shareholder loans and equity into the business in August 2013 alongside roll over investment from the two founders, Chris Anderson and Dave Prendergast to support the ambitious growth plan the founders are pursuing.

Future Strategy

The focus is on expanding the high quality customer base through leveraging the company's current sector specialisms as well as developing further recurring maintenance revenue streams through targeted acquisitions in complementary service sectors.