Advantos HVAC Group has secured funding from alternative lender BOOST&Co to acquire its cornerstone first business. The term loan and additional growth capital will be used to acquire IJC Building Services and other complementary businesses, to accelerate the growth of the group as it provides heating, ventilation, air conditioning and complementary services to both the commercial and residential sectors.
IJC provides residential-based heating and plumbing solutions in the Anglian region and will make up the foundation of Advantos HVAC Group, as the firm executes its buy-and-build strategy. As part of Advantos Equity Partners, the group will focus on acquiring businesses with complementary services that enhance the overall proposition.
BOOST&Co has chosen to work with Advantos because of its clear strategy in the HVAC sector. The board is highly experienced in growing businesses and this experience combined with the sector expertise of the new chief executive and chief financial officers provide a strong foundation for the strategy to be successfully executed.
Oliver Reece, Manchester-based principal at BOOST&Co says: “Advantos Equity Partners has a wealth of experience investing in and growing businesses. Our funding has enabled the company to complete the acquisition of IJC and it will assist in enabling further acquisitions and growing the HVAC Group.”
Sam Turner, chief executive of Advantos HVAC Group and a founding partner in Advantos Equity Partners, says: The funding has enabled us to take the first step in developing the HVAC Group with the acquisition of IJC. We are looking forward to collaborating further with companies in the HVAC sector to expand the group and are glad to have the support of BOOST&Co as we embark on this journey.”