UK gritting and snow clearing business,Gritit, has been backed by Total Capital Partners.
Taking a 40 per cent stake via equity and debt investment, financial details of the deal were not disclosed, but investment will be used to support ‘organic growth and bolt-ons’.
With its headquarters in Surrey, Gritit has around 150 full time employees and takes on a further 400 people during the colder months and services around 4,500 commercial properties across the UK.
Talking of the business, Total said that Gritit achieved revenues of £25m in the year to September, marking an increase in 150 per cent in the past two years.
Gritit was advised by BDO and Macfarlanes with RSM, Drystone, Spectrum and Walker Morris advising Total.