Private equity firm makes seven-figure investment in roof design and insulation business
Leeds-based Comhar Capital has acquired a minority share in TaperedPlus with a seven-figure investment.
This investment is focused upon enhancing its technology-led capabilities, increasing employee numbers, and building upon its market share in the construction sector.
Established in 2014, TaperedPlus has been led by founders Robert Vass and Aman Chahal to become a recognised national commercial and industrial flat roof design and insulation specialist.
The business recently moved into a new head office in Bowesfield Park, Stockton-on-Tess which complements an existing base in Wolverhampton where its design team is based. In the last year it has delivered turnover growth of more than 60% to £6.5m.
TaperedPlus supplies tapered insulation, which enables water drainage from flat roofs while providing thermal insulation to buildings. The architectural-designed service not only allows buildings to meet the latest thermal and acoustic standards – making buildings eco-friendlier and more cost-effective – it also extends the life span of flat roofs.
The deal is the third investment from Comhar, which was established in 2018 by Neil Armstrong and Craig Wilkinson. The company, named after the Gaelic word for ‘partnership’ has been established as an independent direct capital investment business.
TaperedPlus director Robert Vass said: “We have delivered strong organic growth in our first five years in business and this investment from Comhar Capital will provide a significant springboard for TaperedPlus as we focus on increasing our market share and developing new technology-led solutions.”
Craig Wilkinson, managing director at Comhar, said: “We’re looking forward to working closely with Aman and Rob over the coming years as they continue to grow the business.
“They’ve done a great job building TaperedPlus’ position as a trusted and valued partner to architects, contractors and insulation manufacturers providing a very solid platform for further growth.”
Fellow TaperedPlus director, Aman Chahal, added: “The expertise, knowledge and resources that Comhar Capital bring to our business will be a valuable part of our next phase of growth, which includes the creation of new jobs to support our existing and experienced workforce.
“The experience and presence Neil and Craig have across the construction sector will certainly add value to our business and support our growth strategy, which makes this an exciting opportunity for TaperedPlus.”
The firm’s successes to date include notable high profile and award-winning projects, including the Victoria Gate shopping centre in Leeds, Arsenal Football Club’s training ground and the Feethams leisure complex in Darlington.
The development and implementation of its growth strategy has been supported by Newcastle-based advisory firm RG Corporate Finance, which was appointed by the Board earlier this year to lead on this seven-figure fundraise.
RG Partner and head of corporate finance, Carl Swansbury advised the TaperedPlus shareholders, alongside his colleagues Simon Whiteside and Charlie Burton from RG Business Tax. Legal advice to TaperedPlus’ shareholders was provided by Dahren Naidoo of Freeths LLP.
Corporate finance advice for Comhar Capital was provided by UNW with legal advice from DAC Beechcroft.
Swansbury said: “Having worked closely with Aman and Rob to develop a clear growth strategy, I am confident the expertise and investment from Comhar Capital will help the business drive the exponential growth it is targeting in the coming years.
“It has been an absolute pleasure advising Aman and Rob on this significant fundraise and I look forward to seeing what the next few years have in store for TaperedPlus.”
