We are delighted to announce a £9 million investment from BGF – the UK and Ireland’s most active growth capital investor.
BGF is a minority, non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs. BGF invests in growing businesses in the UK and Ireland through its network of 16 offices.
Part of BGF’s investment in Triangle Fire Systems comes from its recently launched UK Enterprise Fund (UKEF) established alongside Coutts, the private banking arm of NatWest, to provide clients with access to privately held, disruptive and diverse companies that are revolutionising their industries. See: www.bgf.co.uk
In recent years, there has been an increase in pressure on contractors and developers to take responsibility for the fire safety of buildings. Regulation has also become more rigorous in order to ensure that all buildings have the appropriate measures in place.
Against this market backdrop, we have delivered consistent growth and in 2020, achieved revenue in excess of £21 million. In addition to this we were recognised as one of the ‘1000 Companies to Inspire Britain’ for the second year running in 2020. The report, by the London Stock Exchange Group, identifies the UK’s fastest-growing and most dynamic small and medium sized businesses (SMEs) highlighting the regional and sector diversity of the UK’s SMEs and the entrepreneurial spirit shown by these companies.
The investment from BGF will enable us to expand our team of 100 specially trained staff and establish new service lines. We will also look to pursue a targeted buy and build strategy to complement the business’ organic growth.
As part of the deal, we have appointed Mark Castle to the role of Non-Executive Chairman. A Chartered Surveyor with a career spanning four decades, Mark has previously been Chairman of Build UK and has held senior leadership and board roles at Mace Group, Wates Group and StructureTone. He is also a Non-Executive Director of both Mace Group and Eleco Plc. His appointment follows an introduction from BGF’s Talent Network – the largest pool of non-exec talent in the UK and Ireland.
Colin Chantler, CEO at Triangle Fire Systems said: “We are delighted to announce the new funding from BGF and the appointment of Mark Castle to the board. The investment, alongside Mark’s unparalleled experience will help us grow our reach and expand our services across the residential and commercial property market. As a family-run enterprise, it was important to us that our investor understood this dynamic, and BGF’s track record of successfully scaling family-run businesses means that we can continue to grow in a way that works for us.”
Chris Jones, investor at BGF, said: “Triangle Fire Systems is the perfect example of a family-run business that is dedicated to exacting standards and quality which is reflected in their strong market position in the sprinkler systems sector. Their track record of growth and profitability in an expanding market means the company’s path forward looks destined for further success.”
Mark Castle added: I’m delighted to be joining Triangle Fire Systems as Non-Executive Chairman. I look forward to putting my experience of scaling businesses to good use as the company gears up for its next stage of growth.”
We would also like to thank our advisers for their support and advice throughout the process: Rob Burden, Mark Maunsell, Zack Goddard and Christian Pollard at Clearwater International (lead adviser), Mark Hughes, Ryan Brown and Harpinder Nahl at Browne Jacobson (legal adviser).