ACS bags Catapult funding
ACS Building & Maintenance, the Coventry-based building repair and maintenance company, has received an equity investment of £1.7m from the Catapult Growth Fund.
It is Birmingham-based Catapult's sixth transaction of 2011.
ACS was founded by Harvey Hunt in 2001, and has grown to be one of the largest Regional contractors, specialising in servicing Insurance Company and Loss Adjuster clients.
ACS, which was founded by Harvey Hunt in 2001, specialises in servicing insurance company and loss adjuster clients.
The company said it would use the investment to recruit new staff and invest in new equipment.
The opportunity was introduced to Catapult by Mike Barcia of Meridian Corporate Finance. He will remain involved post transaction as a non-executive director.
Managing director, Harvey Hunt, said: "ACS has enjoyed consistent growth and we’re ambitious for the future. Catapult is committed to the long term support of the company and I’m looking forward to developing our partnership over the coming years.
"With the introduction of Philip Milburn as chairman, and Dave Preston (finance director), who was commercial director at Homeserve Property Repairs, the management team is now in place to support this next phase of the company’s development."
Working capital facilities were also provided by Yorkshire Bank.
Catapult was advised by PKF in Birmingham and Browne Jacobson's Nottingham office.
