Merger of companies creates combined £30m venture

Thornton Tasker and Niel Bethell

Two firms backed by the former Business Growth Fund have merged to form one of the largest independent facilities management service companies in the UK, with a combined turnover of £30m.

The deal means Nationwide Window Cleaning (NWC), from Leeds, and Manchester-based High Access Maintenance, are the first two businesses backed by the investor, now known as BGF, to join forces.

BGF has provided almost £16.5m of support to both companies over the course of six funding rounds, and has injected a further £5.5m in the first merger of two of its portfolio companies, which will now be known as NSS Group.

Niel Bethel, who founded High Access, takes the role of group chief executive, while Thornton Tasker, who created NWC is executive chairman.

They set up their businesses in the mid to late 2000s and have achieved significant growth in recent years.

The merger was initiated by the two founders and BGF, bringing together the synergies and strengths of the businesses to create one company of significant scale.

Customers include major retailers, hospitals and universities as well as blue chip property development firms.

NWC, which provides window cleaning and specialist cleaning services, has experienced a £10m increase in revenues, a four-fold increase in profits, and has grown its team to 320 since BGF’s investment in 2014.

The group has opened a new head office, added an operational base in Crayford, and completed three successful acquisitions.

Working-at-heights specialist High Access provides building, roof and gutter maintenance, as well as safety system testing and glazings, coatings and hire.

After partnering with BGF in 2016, the company acquired Scotland-based Outreach Access and AA Access to open up in new markets including hire for film, TV and major sporting venues across the UK.

New entity NSS will retain the Nationwide Window Cleaning and High Access brands.

Thornton Tasker said: “Both Niel and I have individually worked to create businesses of scale by investing in our employees and providing the highest quality service to customers.

“There are so many synergies between the companies, not only in our operations but also in our aspirations for the team and the future.”

He added: “Without doubt this merger couldn’t have happened without the backing, support and investment from BGF who have consistently worked with us to unlock growth opportunities, and make them happen.”

Niel Bethell said: “The size and scale of the opportunities for the group are significant.

“Our job now is to cement our position in the market and make sure staff and customers benefit from our expanded presence, service offering and fleet.

“We have a clear direction for future growth which will create new career opportunities for our teams over the next couple of years.”

He said: “With the continued support and partnership of BGF, we’re looking forward to this next exciting chapter.”

BGF will remain a minority partner in the combined group.

Both companies have been supported by BGF’s Neil Inskip, who sits on the board of the businesses, and Rhys Davenport.

Stuart Lees has been non-executive chairman for High Access and NWC and will also continue in this role.

Mr Inskip said: “NWC and High Access are ambitious companies with best-in-class leadership from Thornton and Niel.

“Both businesses were on a growth trajectory before we invested.

“Our role has been to help accelerate that growth through continuing to fund and back their acquisitive and organic strategies.

“This merger creates even more opportunities for the group, and we’re pleased to be part of that.”

Last month, BGF, which has invested £1.45bn across 225 growing businesses in the UK & Ireland, became the first and only investor to be honoured for Innovation in the Queen’s Award for Enterprise.

BGF chief executive Stephen Welton said: “Thornton and Niel are exemplars of the thriving entrepreneurship and ambition that exists in Britain.

“Their ability to think big, take risks and relentlessly pursue growth is a credit to themselves, their families and staff – we are delighted to back this inaugural merger of two portfolio businesses and are excited to see what the future will now bring.”

BGF has invested in 40 companies across the north with a total investment of close to £360m.

This includes more than £100m provided to companies already in its portfolio to support new opportunities for growth, such as acquisitions and store rollouts.

It operates from 13 offices around the UK, including Manchester and Leeds.

Tax advice was provided by BDO. BGF was advised by Shoosmiths; management teams were advised by TLT.

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