The Dartford-headquartered group will use the funding to make two strategic acquisitions and to bring new products and services to market.
The Clearway Group, a vacant property services business, has received a £23m funding package from BGF and Santander to support its organic and acquisitive growth strategy.
The funding is initially being used to make two acquisitions – Cerberus Security and Monitoring Services Limited (Cerberus), a Leeds-based security and monitoring business, and Protim SAS, a Paris based void property services company.
Clearway provides technology-led solutions including alarms and CCTV to monitor; and steel window and doors to secure vacant properties.
The leadership team plans to use the funding to consolidate Clearway’s position in the UK and France and invest in its technology assets and solutions.
The acquisition of Cerberus and Protim will strengthen Clearway’s position as a national leader in the vacant property services market, with forecast turnover of £18m for the 2018/2019 financial year.
Clearway CEO Ian Quinlan said: “The vacant property services market remains largely fragmented which results in inefficiencies for management companies requiring a national framework and service.
“BGF’s investment will help us accelerate our acquisition strategy and expansion across the UK. We’re pleased to be working with the team as we continue to scale the business and explore opportunities for growth in the market.”
The deal was led for BGF by Will Gresty and Tom McDonnell and for Santander by Nick Holman and Victor Joannou.
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