ESO Capital Partners UK (ESO), a provider of flexible capital solutions to European SME’s, has backed Churchill Group (Churchill) the UK-based business services company.The investment provides institutional capital and support to Churchill, with ESO taking a minority stake in the business and both Stephen Edwards and Stuart Hamilton of ESO will join the Churchill Board. ESO’s track record of backing high-growth businesses will assist the Company as it continues its upward trajectory through both impressive organic growth and strategic acquisitions.
Founded in 1988 by Joel Briggs and Phil Moxom, Churchill is a rapidly growing organisation with turnover now exceeding £230 million. The Company provides businesses with cleaning, security, catering and environmental consultancy services across the education, rail & transport, public sector, corporate and property management sectors. Both Joel and Phil will continue as Executive Directors as they prepare for this new phase in the Company’s growth.
This is the third transaction completed from ESO’s latest institutional fund. The Churchill deal structure is typical of the types of customised investments that ESO focuses on, providing both flexible capital and dedicated portfolio company support for European SMEs.
Joel Briggs of Churchill, says: “It was hugely important for us to find a partner that shared our long-term ambitious vision for Churchill. ESO’s backing will greatly support our rapid and resilient growth. With an institutional partner on board, we will be able to prepare the business to readily capitalise on acquisitive growth opportunities in the highly fragmented business services market.”
Stephen Edwards of ESO Capital, says: “We are delighted to be backing such a high-quality company. Phil Moxom and Joel Briggs have built an incredibly successful business and we look forward to working with them over the coming years. We have been particularly impressed with their high levels of customer service and their forward thinking approach to the technology-led changes in the industry through their online platform Mo:dus.
“In our due diligence process, we gave careful consideration to market volatility as a result of the coronavirus outbreak. A business services company like Churchill will be relatively resilient and can positively contribute to the UK’s social infrastructure during times like these. We are confident our expertise in supporting high-growth companies will benefit Churchill as we work with them to develop the business and support its future growth.”
ESO’s deal team was led by Stephen Edwards and Stuart Hamilton and they were advised by Pinsent Mason (Legal) and Teneo (CDD). The Company was advised by Keely Woodley of Grant Thornton (CF), RSM (FDD) and Shoosmiths (Legal).
