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£6 million funding boost to Emprise

Published 8th March, 2017 by Neil Nixon

£6 million funding boost to Emprise

Following an MBO backed by Cable Capital Partners, Bibby Financial Services (BFS) has provided a £6 million funding line to Emprise Services plc. Founded 30 years ago, Emprise employs 4500 people across the UK and services over 1000 locations each day, generating a turnover of around £60 million. Its clients include Pure Gym, Hilton Hotels, Delfont Mackintosh, Dentons, Viacom, and The National Theatre.

Emprise 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.

The funding package, provided by BFS’s corporate team in Manchester, will provide working capital to enable the business to grow both organically and by acquisition, and further establish itself as a leading company in the contract cleaning and security operations industry.

Mark Beadle, CEO at Emprise Services Plc, said: “I am delighted to be able to announce our MBO and refinancing in our 30th anniversary year. Emprise has a proven track record of delivering a quality service. It’s a reputation that we’re proud of and one that we want to enhance with every single client we work with. We look forward to continuing to offer our clients a range of bespoke, highly effective solutions. 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 realise our potential for the long-term development of our business, growing both organically and by acquisition. What attracted us to BFS was its experience in structuring finance packages and its collaborative approach to the funding. The BFS team understands our business and the sectors in which we operate, which is a huge advantage to us as we start 2017.”

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.”

Article links

http://www.bibbyfinancialservices.com