TCL is a niche national provider of landscaping, play products and grounds maintenance services to blue chip and public service clients, with regional hubs in Derby, Northampton, Dorking and Melksham.
TCL has annual sales of £65m and employs 850 people. The acquisition expands idverde’s UK portfolio of services, "providing a complementary offer to existing clients in both companies and further develops idverde’s extensive national coverage delivered by idverde staff.
idverde UK now has over 3,850 directly employed UK staff. idverde Group is Europe’s biggest provider of green services with a turnover in excess of €600m, employing 6,000 staff throughout France, Holland and the UK where it is also the market leader in each of the respective countries in which it operates. Simon Cashmore and the TCL Executive management team will take up senior roles within idverde.
Doug Graham, chief executive of idverde UK said: “We have been tracking TCL for some time and have been impressed with the way in which the business has developed and are really pleased to have secured the deal to truly make idverde the undisputed market leader in the UK.
"In addition to its grounds maintenance services delivered through the royal warrant-holding Burleys division, with TCL’s Playforce products and services and housebuilder landscaping services, TCL brings new and enhanced service capability to idverde and it strengthens our strategy to be the green services provider of choice, which is underpinned by our 3,850 directly employed colleagues. I am delighted to welcome Simon and the TCL team to the business as they continue into the next chapter of the journey as part of the idverde team.”
Simon Cashmore, executive chairman of TCL said: “Alongside Simon Abley and a number of close colleagues it has been a huge pleasure to have had the opportunity to lead TCL Group since 2007 and build the business from a single site Midlands-based operation into a multi-channel / multi-services organisation, operating across a national footprint.
"Joining forces with idverde represents an incredibly exciting opportunity for colleagues working within the group and indeed for our customers, with many advantages for both as a result of becoming part of the UK market leader.
"The range of services provided by idverde and TCL are hugely complementary and combine to create a really compelling proposition for the enlarged group’s many customers. I would like to thank Business Growth Fund and Investec, and previously Caledonia Investments plc, for the role they have played in supporting the growth of the business and I look forward to being able to play a part in helping the business continue to flourish within idverde.’’
idverde is owned by Core Equity Holdings and its management team. Livingstone Partners advised idverde on the transaction, with legal advice provided by CMS Cameron McKenna Nabarro Olswang and financial and tax due diligence provided by KPMG.