03 February 2020 | Herpreet Kaur Grewal
Foresight Group LLP, a private equity and infrastructure investment manager, has injected a further £1.1 million growth capital investment into portfolio company Tudor Group to fund its acquisition of Wales-based cleaning contractor A Quality Service Ltd (AQS).
Based in Manchester, Tudor is an established FM provider offering window cleaning, general cleaning and ancillary maintenance services to more than 100 customers nationwide, including Transport for Greater Manchester, Hilton, Radisson, and Marriott.
Established in 2011, AQS is a specialist cleaning contractor founded by Robin Kinrade and Gillian Edwards.
Like Tudor, AQS focuses on providing cleaning services to clients including sporting venues and stadiums, operating throughout Wales and south-west England.
Since Foresight made its original investment in 2016, Tudor has worked to scale operations, introducing improvements to health and safety, finance and IT systems. Buying AQS will allow it to grow revenues further by offering additional services to AQS's established customer base, predominantly in Wales and the South West.
In addition, AQS has a substantial pipeline of opportunities that Tudor will be able to develop.