ThinCats, an alternative finance provider to mid-sized SME, has provided £3m in funding to support two acquisitions for professional horticultural services to businesses and buildings provider, Urban Planters.
The deals involve two separate acquisitions by two of Urban Planters’ franchisees, Newman’s Plants Limited and The Palfreymans Limited. Both companies operate under the Urban Planters company name.
Established in 2004 in Brentwood, Essex, Newmans Plants is a family-owned business providing horticultural services across Chelmsford, Cambridge and London. The business sought funding to acquire Contemporary Plant Designs Limited, another franchisee of Urban Planters Franchise Limited in West London based in Hounslow, on the retirement of the current owners.
Headquartered in Matlock, The Palfreymans has been trading since 1996 providing plant displays, landscaping, grounds maintenance and green walls throughout Derbyshire. The business secured funding for the acquisition of Paul Lomax Limited, again also a franchisee of Urban Planters Limited, operating across the North West of England.
Both acquisitions provide the opportunity for an expansion of the businesses to cover new customers and territory. Newmans Plants was introduced to funder ThinCats by Padraig Connellan at Synergy Commercial Finance.
The Palfreymans was introduced by Paul Richardson, Sales Director at MAF Finance Group, a Derbyshire based credit broker.
Duncan Newman, Owner and Managing Director of Newman’s Plants said: “We work within a sector that is growing in popularity, with the demand for plants in buildings increasing as more and people recognise the range of benefits. I am very proud of the fact that we are a trusted brand with a history of delivering a high-quality service. With the funding for this acquisition, we can take this service to even more clients.”
Tom Palfreyman, Owner and Managing Director of The Palfreymans comments: “This acquisition gives us a great opportunity to expand our reach and develop the services that we offer across a much larger area. We have been successfully operating as a well-respected family business for nearly 25 years and are looking forward to our next chapter.”
Stuart Thompson, Director, Regional Business Development, ThinCats: “Both Duncan and Tom are very passionate about the businesses and the industry, and the whole team is very obviously dedicated to providing the best service to their clients. They have shown with previous acquisitions that they have the ability to grow and continue to deliver great customer service, and I am excited to see where these next acquisitions will take them.”