GRITIT, founded in 2004, is a national winter services company specialising in gritting and snow clearance for commercial properties. Since its inception GRITIT has seen significant organic growth driven by its focus on customer service and innovative technology. In recent years the business has diversified into grounds maintenance and civil works.
The investment from Total Capital Partners (“TCP”) is expected to fund service expansion and acquisitions as GRITIT continues to scale up its operations and product offering. With the funding GRITIT will be able to accelerate its long term-strategy of becoming a leading provider of technology led facilities management services.
GRITIT achieved revenues of £25m in the year ending 30 September 2018, an increase of 150 per cent in two years.
“Helping entrepreneurially spirited businesses, like GRITIT, thrive, is at the core of what BDO does. This deal represents a great outcome for GRITIT that now has the backing to accelerate its long-term strategy and continue its rapid expansion of B2B facilities management services. We wish everyone all the best in the new partnership”.
Jamie Austin, Head of Private Equity, BDO
“The exciting new growth partnership between GRITIT and TCP could not have been possible without the expert guidance given by BDO throughout the process. BDO’s experience in solving the challenges faced by rapidly growing businesses such as ourselves has helped provide a platform to scale up our winter gritting services, grounds maintenance and civil works.
Speaking on behalf of the management at GRITIT, we’re really excited about the expansion opportunities that TCP’s growth funding brings us so we can continue our success as a class-leading technology-based facilities company. There is no doubt we made the right decision bringing BDO on board. We could always rely on them giving us their honest opinion. They really cared about getting us the right deal from the right investment partner”
Jason Petsch, CEO, GRITIT