Besseges secures BGF investment to drive acquisition strategy
Besseges, an active fire protection and facilities management business for the retail, commercial and education sectors, has secured a significant investment from BGF.
Founded in 1976 and headquartered in Dukinfield, Manchester, Besseges installs fire sprinkler systems. In 2022, the business was acquired by CEO David Prendergast and non executive director Graham Norfolk and has grown from a headcount of five to 60 in that period.
Besseges has also expanded its service offering to include: fire protection installation, fire protection service & maintenance, and facilities maintenance across HVAC, commercial heating and plumbing equipment, and electrical systems.
The funding from BGF will allow the business to continue its organic growth and consider strategic deals as it grows from its North West and Midlands heartlands to providing a nationwide service.
Commenting on the deal, David Prendergast, CEO, said: “The active fire protection market is growing and Besseges is well-placed as one of a small number of LPCB Level 4 providers of commercial fire sprinkler systems. This allows us to provide an end-to-end offering across design, supply, installation service and maintenance, and brings additional reputational benefits which give us a competitive advantage.
“Our facilities management business (Besseges FM) has seen phenomenal growth since its launch 18 months ago. Our commitment to offering a “best in class service” from both businesses has seen our market share grow month-on-month, our strategy is quite simple – we deliver on our promises.
“We have ambitious growth plans which required an investment partner who could provide flexible capital and would allow us to remain in control of the day-to-day running of the business. BGF impressed us with their experience of supporting businesses to scale and ability to add value beyond investment as we look to expand.”
The deal was led by Rhys Davenport, an investor in BGF’s North West team. As part of the investment, Mike Brown will join the board as non-executive chair (NXC). He has been introduced by BGF’s Talent Network – one of the largest groups of board-level executives in the UK and Ireland and was formerly NXC of BGF-backed Horbury.
BGF investor Rhys Davenport added: “Besseges has delivered impressive growth in a resilient market and has a clear appetite to accelerate this with our backing. We look forward to working with this impressive management team which has a proven track record of delivering growth and returns in ambitious, fast growth businesses.”
Alvarez and Marsal advised Besseges’ shareholders on the transaction.
Commenting on the deal, Jonathan Boyers from Alvarez and Marsal added: “Besseges is a brilliant business which has grown exponentially under the shareholders’ leadership. It has been a pleasure to support them in receiving significant investment from BGF to accelerate growth further and we look forward to seeing what they will go on to achieve with BGF’s backing.”
“This deal is a great example of the appetite from investors to back high-potential entrepreneurial businesses in the North West as well as the strong levels of activity we’re seeing in the fire safety and facilities management markets. It’s an area we’re expecting to see continued activity in over the short-to-medium-term and we will continue to leverage our own experience and expertise of working with UK mid-market businesses to support the sector.”
Besseges were advised by Alvarez and Marsal (Jonathan Boyers, Chris Ryan, Harry Simmons, Chloe Fletcher and Michael Clarke); and legal advisers, Gateley (Rebecca Grisewood, Kate Richards, Chris Lister and Adam Noble) and Saffery (Hayley Brightmore-Cox, Jenny Serridge, Connor Bundy, Chloe Thomas-Hui).
BGF were advised by legal advisers Squire Patton Boggs (Matt Canipa, Tom McClusky, Mona Mojtabavi, Andy Kirkham and Elysia Watts); and Confidas People and Holtara.
