TrueNorth Capital Group has acquired industrial and commercial roofing specialist Total Roof Control (Midlands) Ltd as it continues to build a UK construction platform through a buy-and-build strategy.
The deal forms part of TrueNorth’s strategy of acquiring established, privately-owned construction businesses and supporting their growth through investment in people, technology, systems and operational capabilities.
TRC provides industrial and commercial roofing maintenance, refurbishment and repair services across the UK, with a heritage dating back to 1897. Its services include sheeting and cladding, gutter systems, liquid-applied weatherproofing, single-ply roofing and felt systems.
TrueNorth said it is targeting profitable, well-managed specialist businesses with established customer relationships and opportunities for further growth. The group is backed by family office capital and was founded by Bradley Lay, a construction entrepreneur and specialist.
Its existing portfolio includes KNG Building Services, a £10m-turnover MEP contracting business, while the group has also established SME Funded, a funding and finance platform for existing SMEs.
The group said a key part of its acquisition model is providing succession solutions for owners of established construction businesses. Rather than integrating acquired companies into a single corporate identity, the group said it intends to retain their existing cultures, customer relationships and specialist expertise while providing additional resources to support growth.
Bradley Lay, principal of TrueNorth Capital Group, said: “Total Roof Control is exactly the type of business we want to bring into TrueNorth. It has an exceptional heritage, longstanding customer relationships and a reputation that has been built over generations.
“Our responsibility is to protect what has made the business successful while providing the investment, infrastructure and support required for its next stage of growth. The roofing and external envelope market is a major part of our strategy, and TRC gives us a fantastic platform from which to continue building our capabilities in this area.”
He added: “There are some outstanding privately owned construction businesses across the UK, many of which have taken decades or even generations to build. When owners begin thinking about succession, growth or eventually stepping away, the options available to them can be surprisingly limited.
“We want TrueNorth to be a genuine long-term home for those businesses. That means respecting their history and their people while giving management teams the resources and backing to achieve the next phase of their ambitions.”
