Gritit News

Winter Services and Grounds Maintenance Provider GRITIT Secures Investment Partner to Drive Future Strategy

November 02, 2018

GRITIT today announced that it has entered into partnership with Total Capital Partners (TCP) to help fund and secure its future development strategy.  

 

GRITIT is a leading Winter Services Company providing a range of technology enabled winter services including snow clearance and gritting to over 4,400 commercial sites across the UK. It also provides Grounds Maintenance, Landscaping and Civils works and the company’s long-term goal is to become a leader of all external FM services, offering unrivalled service and technology lead propositions. 

Total Capital is providing its differentiated single source funding, a combination of equity and debt, to support both organic growth and acquisitions, backing CEO Jason Petsch and his management team to continue their successful strategy in this sector.  Total Capital Partners will hold a 40% stake in the business and Natalie Eastham, Managing Partner of Total Capital Partners will join the board of GRITIT.

The business is growing rapidly and achieved revenues of £25m in the year ending September 2018, an increase of 150% in just two years. GRITIT in an innovative market leader, constantly challenging the status quo with technology lead improvements.

GRITIT continues to develop their propositions with industry leading technology and tested decision support processes and has applied this intelligence to other FM markets such as Grounds Maintenance. With their access to both funding and technology know- how, TCP will make an excellent partner on this journey.

Paul Brown led the investment on behalf of Total Capital Partners, and commented:

“GRITIT is an exciting, high growth business that is at the forefront of technology development in its sector.  Applying its technological leading edge, it will continue to take winter services market share and continue its expansion into grounds maintenance and landscaping.  With a robust capital structure from Total Capital to take the business forward, the business is now very well-placed to increase its market share and capitalise on exciting acquisition opportunities."   

Jason Petsch, founder and CEO of GRITIT, commented:

“We felt that the time was right for our business to bring in an investor with whom we could partner during the next phase of our growth. We see a huge opportunity to expand our service provision across the UK and increase our range of services.  The funding that we have received from Total Capital will give us additional firepower to pursue those goals”.  

 

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