2011 News

01 July 2011

Catapult Mops Up With Investment Into ACS

ACS Building & Maintenance Limited (“ACS”), the Coventry based specialist building repair and maintenance company, has received a committed equity investment of £1.7m from the Catapult Growth Fund (“CGF”), becoming its 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 strives to deliver a swift and seamless resolution of domestic buildings claims, arising from burst pipes, flood, fire etc, for insurance companies and their policy holders. With the new funding, the company will continue its investment in systems and people, aimed at enhancing further the service levels and client experience it delivers, throughout the Midlands and adjoining regions.

Managing Director, Harvey Hunt commented, “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 coming years. With the introduction of Philip Milburn, who built Highway Emergency Services, prior to its sale to Homeserve, as Chairman, and Dave Preston, 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.”

The opportunity was introduced to Catapult by Mike Barcia of Meridian Corporate Finance, who has advised on a number of deals in the sector, and who will remain involved post transaction as a Non Executive Director.

Richard Bucknell, Fund Principal of the CGF, commented, “Having first been introduced to Harvey, by Mike, over 3 years ago, our investment into ACS is the culmination of the relationships which have been built over that period. Support Services is a sector Catapult has been keen to develop further and ACS is a great example of how the out-source model can be used to develop a really high quality business. Alongside working capital facilities provided by Yorkshire Bank, our investment will serve to provide a solid financial base from which the company can continue to expand and the confidence to exploit the many growth opportunities it identifies.”

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