Wakefield-based Complete Business Solutions has announced that Abercross Holdings will be contributing a significant minority investment to help fund its ongoing acquisition strategy.
Complete boasts a portfolio of business services which assists over 15,000 commercial clients from 16 sites across the UK. It delivered £80m of revenue last year, marking a growth rate of 40% per annum since 2012.
The Abercross investment is a £20m transaction. The acquisition strategy it will support has already seen 12 bolt-on acquisitions in the past five years, and the investment will enable Complete to expand its infrastructure, increase its footprint, and enhance the service offering.
Abercross partner Andrew Woodhouse said: “We are delighted to have the opportunity to invest in the standout company in the business services sector. We have been hugely impressed with Richard Coulson and his team and what they have achieved, growing Complete from £8 million of turnover in 2012 to the leading business services provider it is today.”
Richard Coulson, CEO and majority shareholder of Complete, added: “Our well-invested infrastructure provides us with a highly scalable platform and, with Abercross support and the additional firepower that this transaction gives us, we are well-placed to capitalise on the significant growth opportunities in this sector, both organically and by acquisition, and expect to double revenues by 2020.
“I’m proud of our team and what we have achieved to date and with Abercross on board we’re very excited about our prospects for the future.”