A Midland law firm has helped business provider Chapco Group to secure £5 million investment to fund its plans to go on the acquisition trail.
Harvey Ingram solicitors advised Chapco, which secured the funds from growth capital private equity firm Next Wave Partners before it bought Scottish competitor 24Seven.
In return, Next Wave gets a significant minority stake in the business.
The funding will be used to fund significant organic growth opportunities as well as acquiring other companies in the sector, a Chapco statement said.
The deal comes a year after the Lutterworth-based firm bought Bedfordshire telecommunications provider Globe Worldwide.
All three deals were overseen by Lisa Botterill, an associate and corporate specialist firm Harvey Ingram, which employs 300 people at offices in Birmingham and Leicester.
She said: “These three timely, strategic and very sizeable transactions will see Chapco continue to strengthen its strong position and maintain a dominant share in an increasingly competitive market place.
“These deals typify the type of work Harvey Ingram’s corporate team excels at.
“We’re delighted to again be part of the latest chapter in Chapco’s on-going success story.”
Chapco Facilities Management has been supplying building maintenance services to commercial, industrial and domestic clients since it was established in 1976.
Clients include Unipart Group, TNT Logistics, Toys R Us and Somerfield.
Next Wave partner Stephen Walls will join Chapco’s board of directors “giving the company the benefit of his experience in successfully growing companies in the property services sector as well as leading growth in several FTSE 100 companies”
Chapco Group has appointed Alan Curtis, former managing director of Prologis UK to the position of non-executive chairman.
Richard Chapman, who will continue to lead Chapco Group as its chief executive and majority shareholder, said: “We are all delighted with the acquisition of 24Seven as part of our strategy to develop Chapco as a nationwide facilities management business supporting Blue Chip clients.
“We will harness the best of both Chapco and 24Seven to take our service to higher and more efficient levels.
“This is great news for all of our existing clients.”
