Nurture is a leading provider of grounds maintenance, landscape construction and gritting services. Nurture is a Royal Warrant holder and has won multiple industry awards for the quality of its service. The company is headquartered in Surrey and achieves national coverage from 45 sites, employing over 1,500 staff and operating a fleet of over 920 vehicles. Some of Nurture’s contracts are amongst the most prestigious in the UK, including maintaining the grounds and gardens at Richmond Park, Windsor Castle and the Tate Gallery.
Following our investment, we worked with the management team to continue Nurture’s successful programme of acquisitive growth in a highly fragmented market. We encouraged continued diversification into higher margin sectors such as office plants and displays and pest control. Greater emphasis was also placed on organic growth with the targeting of new contract with large national customers.
Key Business Achievements
Completed 22 acquisitions across a broad range of sub sectors related to the core grounds maintenance activity
Increased the proportion of revenue generated from higher margin activity such us winter gritting, plants and displays and pest control
Won several significant multi year national grounds maintenance contracts
Increased revenue and EBITDA by 70% and 58% respectively
Rapidly implemented new ESG policies such as the roll out of the real living wage and the reduction in the use of chemicals and fertilizers
In 2023, Graphite sold its investment to All Seas Capital, a private equity investor. The transaction valued the equity of Nurture at £136m. The sale generated a multiple of 2.0 times the cost of Graphite’s investment