Emprise Services has been given £6 million in funding from Bibby Financial Services (BFS) following a management buyout (MBO) backed by Cable Capital Partners.
The funding package, provided by BFS’s Corporate team in Manchester, will provide working capital to enable the cleaning and security services specialist to grow both organically and by acquisition.
Founded 30 years ago, Emprise employs 4,500 people across the UK, who deliver services to over 1,000 locations a day, generating a turnover of c£60 million. Its clients include Pure Gym, the UK’s largest private gym operator; Hilton Hotels, Delfont Mackintosh, Dentons, Viacom and The National Theatre.
Emprise has an average of 500 security guards working in London and the South East, with more than 3,500 cleaning operatives working nationally. The company cleans over 3.5 million square feet of leisure space and thousands of seats and workstations across Britain’s theatres and offices every day.
Emprise says it now aims to “build on its favourable positioning across corporate offices and high footfall public buildings to drive the next phase of its growth”.
The current management team, led by Mark Beadle as CEO, will remain in place and Stephen Barrett, who founded the business, will continue as non-executive director.
Commenting on the funding, Beadle said:
“With the investment of Cable Capital and the financing we recently secured from Bibby Financial Services, we will drive the next phase of our growth. Keeping the same management team, our clients will continue to see high standards as always, but the additional funding lines now in place mean we can now realise our potential for the long-term development of our business, growing both organically and by acquisition.”
Dan Burton, Head of Corporate (North) at BFS who led the transaction, said:
“Emprise is a company which operates on a national basis and boasts high profile clients, vast support infrastructure, and management experience. Given the company’s excellent track record in this sector, we are looking forward to seeing the company grow its position in the industry and partnering with them as they go.”
BFS’s Corporate team is responsible for funding larger SMEs requiring finance packages from £1million to £15 million.
Since its formation, the team has structured more than 470 deals across the UK.