A landscaping and horticultural specialist trading as English Landscapes is looking for acquisition targets after it was bought by three of its directors.
A landscaping and horticultural specialist trading as English Landscapes is looking for acquisition targets after it was bought by three of its directors.
The Landscape Group is now under the control of chief executive Martin Hunt after he secured funding from private equity firm Elysian Capital, making its first investment since it was founded in January.
Hunt was joined in the buy-out by Mark Oliver and Peter Holland, English Landscapes operations managing director and commercial director respectively. Post completion, Elysian’s Chai Patel joins the board.
The financial terms of the agreement have not been disclosed, but Elysian’s investment was supported by debt arranged by Noel Stubley of the acquisition finance team at TSB Corporate Markets.
Hunt said Elysian will help grow the business by expanding its services organically and through acquisitions. “We believe there is considerable market opportunity and are excited by the prospects that lie ahead of us.”
The company was sold by Blue Diamond Services, a specialist cleaning group that supports the transport, public sector and retail markets, three years after it bought the business.
Elysian’s investment was led by Ken Terry and Edward Brett, who released a statement claiming that they are backing management to grow the business. “We have provided a combination of flexible equity finance and operational support that will enable the company to continue to develop.”
Stubley added that he was attracted to the deal due to the management of English Landscapes, its market position and its local authority customers.
English Landscapes, headquartered near Newbury, is a provider of landscape maintenance, street cleaning and horticultural construction services to the public and private sectors. It has more than 600 employees across the UK and revenues of £40 million.
Elysian was established by four private equity investors with 35 years of combined experience in the industry. They intend to invest in the support services and out-sourcing, consumer and retail, industrial products, financial services and healthcare sectors.
