Chapco Group Limited (Chapco) the leading UK facilities management company has secured a £5 million investment from growth capital private equity firm Next Wave Partners LLP (Next Wave) in return for a significant minority stake in the business. The funding will be used to fund significant organic growth opportunities as well as acquiring other companies in the sector.
The company has also appointed Alan Curtis, former Managing Director of ProLogis UK to the position of non-executive chairman. Richard Chapman will continue to lead the company as its CEO and majority shareholder.
Next Wave Partner Stephen Walls will join Chapco's board of directors, giving the company the benefit of his experience in successfully growing companies in the property services sector as well as leading growth in several FTSE 100 companies "Chapco has a strong team, great customers, a reputation for quality and many opportunities for growth. Next Wave is looking forward to working with Chapco and assisting them in achieving significant growth across its business activities".
Chapco CEO Richard Chapman says, "I am delighted to have partnered with Next Wave to help take the business to the next level. I am also very pleased to have appointed Alan Curtis as non-executive Chairman. Alan's role will be to co-ordinate the Board and using his unrivalled industry experience, add perspective to the direction of the group".
About Next Wave: Next Wave Partners LLP is a growth investor focused on backing proven management teams in private equity deals requiring £2-10 million of equity funding. More information at www.nextwavepartners.co.uk