Yorkshire-based Nationwide Window Cleaning has received new investment of £1.5m from BGF to support its organic growth strategy and the acquisition of Reflekt Cleaning Company.
The investment follows a period of significant growth at NWC, with revenues increasing by close to 100 percent since BGF’s first investment, from £7.5m in June 2014 to more than £14m in June 2017.
Founded in 2009 by Thornton Tasker, NWC is now the largest window, gutter and high-level cleaning business in the UK. The company provides simple and complex cleaning services to customers including Heathrow Terminal 5 Royal Bank of Scotland, Sainsbury’s and the British Museum.
Operating across the Midlands, Reflekt Cleaning Company’s customers include BBC, RAF, Cadbury, Merck Sharpe & Dohme and Exxon Mobil. The company, which employs 17 people, has experienced strong growth since it was set up in 2005.
The acquisition strengthens NWC’s presence in the Midlands and provides further scale in the areas of high-level cleaning and dusting, duct cleaning, canopy and roof cleans. NWC recently bolstered its operations and customer-base in Scotland and London following the acquisition of the trade and assets of Superior Window Cleaning.
NWC’s initial £3m funding from BGF has supported the growth of the business through investment in fleet, plant and equipment, IT operating systems and the recruitment of regional and sales managers, surveyors and technical staff. Total number of employees across the business has grown from 140 to 320 in the past three years.
NWC will continue to explore future acquisitions in the areas of abseil, pressure washing and high-level maintenance.
Thornton Tasker, founder and CEO at NWC said: “The investments we’ve made into our people, assets and operations have given us with the bandwidth to take on significantly more work for our customers. This has had a positive impact on sales since the BGF investment, and would not have been achieved without the work and dedication of NWC employees.
“Reflekt is a great fit for us. It’s a high-quality, service-orientated business with blue-chip clients. We have already started the process of integration and are delighted to bring on board the Reflekt team.”
Neil Inskip, BGF said: “NWC was in a strong position when we first invested in the business. Our funding has helped Thornton and his team to accelerate the company’s growth and add scale to its infrastructure.
“This follow-on funding demonstrates our ability to act quickly to unlock new growth opportunities for the companies we back. We are delighted to continue our support Thornton and the NWC team.”
BGF is the most active investor in small and mid-sized businesses in the UK. An established and independent company, it has £2.5bn to support a range of growing companies – early stage, growth stage and quoted – across every region and sector of the economy.
The investment by BGF was led by Neil Inskip and Rhys Davenport who are based in BGF’s Manchester office.