A nationwide landscaping and grounds maintenance business headquartered near Derby has been sold to a green services provider.
TCL Group, which is based at Little Eaton, has been sold to Idverde for an undisclosed sum. The deal allows minority equity partner BGF (Business Growth Fund), which is an investment company, to exit TCL.
Since taking a stake in TCL, whose companies include Derbyshire floral features firm Plantscape, BGF has invested more than £16 million into the group, which now has regional hubs in Derby, Northampton, Dorking and Wiltshire.
TCL has completed seven acquisitions since BGF’s invested in the business five years ago, including providing the funding for the acquisition of Royal Warrant holder Burleys, a company which manages and maintains outdoor spaces for residential and commercial construction clients.
TCL is led by executive chairman Simon Cashmore, who, along with his executive management team, will take up senior roles within Idverde.
He said: “It has been a pleasure to have led TCL Group since 2007, building the business from a single site to a multi-channel and multi-services company. I would like to thank BGF for their support in the growth of TCL.
“Joining forces with Idverde presents an exciting opportunity for both colleagues and customers. I look forward to playing a part in helping the group continue to flourish.”
BGF’s Paul Oldham, who served on the board of TCL Group, said: “This is a fantastic achievement for the team and a reflection of the work that’s been dedicated to building the business.
“The TCL management team have worked hard to successfully execute the strategy and create one of the leading businesses in the sector.
“We are delighted both that BGF has delivered a good return on its investment and for the management team who become a valued part of the BGF alumni network. We wish TCL Group and Idverde all the best in the next stage of their journey.”
