North West Roofing Firm secures new investment
WIRRAL ROOFCARE, a family business employing around 80 people in Merseyside, has secured a £4.6m investment from private equity firm Foresight Group.
Post-investment, Scott Williams continues his role as managing director and shareholder. Scott’s parents, Herbert and Denise Williams, who founded the business in 1982, have fully exited the business and are now retired.
Brian Murphy, the founder of the electrical and fire contractor Fieldway Group, also based in Merseyside and backed by Foresight, assumes Wirral Roofcare’s chairperson role. The Huyton-based Fieldway Group focuses on public sector and housing association RMI contracts. He will support Scott and the management team in the next phase of the firm’s growth.
Wirral Roofcare holds contracts in the social housing sector across the North West, North East and Midlands. The company also works with outsourced service providers, insurers and domestic customers with emergency and planned roof repair and maintenance.
With annual revenues of £7m, a new finance director, David Pearce, has also been appointed. Foresight introduced him, and he has worked with several other private equity-backed businesses in the past.
On the investment, Scott Williams said: “Now is the right time for us to accelerate our growth, and I am delighted to be working with Foresight, who introduced Brian to the business. He has already walked the same growth path in a similar sector, and I am sure he will be a great benefit moving forward.”
Advisers to Foresight included Mills & Reeve’s for legal advice, Commercial Due Diligence by PMSI, Management Due Diligence by Catalysis, and Gallagher for Insurance Due Diligence.
KBS and law firm Hill Dickinson advised the family shareholders, and Moore & Smalley provided tax advice to the Williams family.
Dow Schofield Watts Transaction Services in the North West provided Financial Due Diligence advice. The team comprised Ros Jones, Declan Littler, and Madeleine Andrews.
