A £3.8 million investment from Maven Capital Partners will be used by Lambert Contracts to expand into new geographic markets.
Insurance contractor Lambert Contracts has become the second business in a week to be backed by Maven Capital Partners.
Following on from a £9 million buy in management buy-out for HCS Control Systems, Scottish business Lambert Contracts has added £3.8 million to its growth warchest.
Founded in 1986, Lambert Contracts is a contractor in insurance reinstatement, property maintenance and fire protection to both home and business owners. It services include resorting fire-damaged properties and carrying out general building maintenance for property managers.
The investment from private equity firm Maven Capital Partners will facilitate expansion by going after new markets.
Greg Chalmers, managing director at Lambert, comments, ‘This investment by Maven provides a platform for supporting the business through the next stage in its evolution and will help us to achieve our goals for future expansion, creating opportunities at all levels within Lambert.’
Maven has now closed seven new investments during 2011 and successfully exited its interests in Atlantic Foods and Homelux.
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Maven investment director Julie Glenny adds, ‘Lambert Contracts is a dynamic business with excellent growth prospects and an established market presence, and is typical of the sort of business Maven looks to support as part of its later-stage investment strategy.
‘We have been very impressed with the management team, and in particular MD Greg Chalmers who has the vision and ambition to continue the impressive growth achieved by the company to date.’