Black Cat, a Manchester-based commercial project and building consultancy, has secured a multimillion-pound investment from growth capital investor BGF to support its ambitious growth plans.
Founded in 2015, Black Cat works across commercial, industrial, retail and public sector property.
It specialises in a range of services including building surveying, design, rating, mechanical and electrical, compliance and project management, with projects managed totalling more than £734m and spanning 83 million sq ft.
Operating across 10 offices nationwide, Black Cat has grown its team to 91.
Investment from BGF will allow Black Cat to accelerate its expansion into new locations across the UK and Ireland, while growing its workforce and enhancing client services.
As part of the deal, Ian Plumb will join Black Cat as non-executive chair from BGF’s Talent Network.
Ian is a highly-regarded non-executive director who has worked across several BGF portfolio businesses, including Emma Bridgewater and North West-based Evoke Creative, to drive strategic growth.
The deal was led by Josh Bean and Emma Cassidy, investors in BGF’s North West team.
Ben Golby, founder and director at Black Cat, said: “In the last decade, the business has gone from strength to strength. Not only have we grown year on year, but we have challenged some of the larger players in the sector, built a uniquely transparent and very rewarding workplace, and won significant market share.
“In order to build on that momentum and increase our footprint in diverse markets, we needed an investor to take a patient and long term approach to growth. BGF stood out as the ideal partner, and we’re delighted to have them onboard as we expand across the country.”
Last year, BGF announced a £3bn commitment to support high-potential companies across the UK over the next five years. This includes £400m for businesses in the North West, building on the £596m already invested in the region since 2011.
Josh Bean, investor at BGF, said: “Since 2015, Black Cat has created a people-first business, disrupting the commercial property market through its transparent approach.
“This formula has attracted some of the best talent in the market and enabled the business to make a tangible impact on both the commercial property market and in the regional hubs where it has a presence.
“We look forward to working with founders Ben, James and Stephen, as they continue leading Black Cat on its impressive growth journey.”
Advisers on the transaction – Management: Clearwater, Claritas (tax), Hill Dickinson (legals); BGF: Browne Jacobson (legals), AMS (financial DD), PSMI (commercial DD), Hurst (tax DD), The People Business (management DD).
