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Private equity firm Inflexion has announced it has completed an investment into TC Group, a provider of accountancy and taxation services to UK SMEs.
The investment is being made from Enterprise Fund V, Inflexion’s dedicated lower mid-market fund.
TC Group provides bespoke, high-quality accounting, bookkeeping, tax, audit and payroll services. It operates through 29 local offices throughout the UK with over 500 employees servicing almost 15,000 customers.
The company has a strong track record of organic growth and through acquisition, with 28 completed to date and a strong pipeline of further opportunities. Inflexion has extensive experience in the professional services sector, with successful partnerships alongside firms such as Succession Wealth, Lane Clark & Peacock, Ocorian, PMC Treasury and Sparta Global.
The firm brings significant buy and build experience, having completed over 440 throughout its near 25-year history and it will support the business as it continues its strategy to consolidate the fragmented market.
Malcolm Coffin, partner and head of enterprise fund, Inflexion, said: “TC Group has a fantastic business model and brilliant management team, which combined with Inflexion’s sector and M&A experience, puts us in a great position to help accelerate its already impressive growth. We look forward to working with the team to seize the market opportunity together.”
Richard Keyes, CEO, TC Group, added: “TC Group continues to grow and evolve, and our partnership with Inflexion is the next phase of our journey. Our primary goal is to keep providing a fantastic service to our partners and customers, and with the extra resources that Inflexion provides we will be able to ensure that this happens.
“The Inflexion team immediately impressed us with the way that they really understood our business and our aspirations, and we know that it will be a very dynamic partnership.”
