Chapco Group, the fabric maintenance and FM business Monday announced it had received a £5 million investment capital funding from Next Wave Partners. The funding from the growth capital equity firm, Next Wave Partners, is expected to give it a considerable minority stake in the Chapco business in return. Chapco said in a statement that it plans to use the funding extensively to fund its vital growth opportunities as well as enable it make investment acquisitions for other companies in the sector.
The deal also includes an agreement that will see Next Wave Partner, Stephen Walls, join Chapco’s board of directors. His experience in growing companies in the property services sector as well as being at the helm of growth of various FTSE 100 companies comes as a great addition to the Chapco Group.
Additionally, the Chapco Group has as well appointed Alan Curtis as its non-executive chairman. Curtis joins the company from ProLogis UK where he served as managing director. ProLogis offers industrial and distribution buildings services in the UK and mostly works with retailers, manufacturers and third party logistics firms. As it stands, Curtis left the company owning and managing about 20m square feet of industrial space in prime locations all over the UK. Richard Chapman continues his tenure as Chapco’s CEO and majority shareholder. The company’s clients include companies such as Unipart Group, TNT Logistics, Toys R Us and Somerfield with its facilities management arm having been in supply of building maintenance services to both commercial and industrial clients from its inception in 1976.
Chapco Group offers services inclusive of every aspect of interior and exterior facilities maintenance, cleaning, building and decorating, project management and landscape maintenance, exterior lighting and signage. The company also deals with maintenance of emergency systems such as lighting, alarms, fire suppressions, water and back up power.
However, the group has business in the national telecoms infrastructure installation and management too that is carries out via Globe Worldwide and another IT support services business called Century Computing. Richard Chapman, the Groups CEO, said he was pleased to have partnered with Next Wave to help advance the group’s business, reiterating his happiness with the appointment of Alan Curtis as a non-executive chairman. According to Chapman, Alan will play the crucial role of coordinating the board and using his vast industry experience to bring a new perspective to the group.
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