DAC Beachcroft has helped longstanding client Fastflow Group to secure a significant investment from private equity house Elysian Capital to support the UK maintenance company's growth plans.

The deal completed in Leeds earlier this month, marking a significant cash injection for Fastflow, which provides maintenance services to the owners of critical assets in the water, gas and social housing sectors. Headquartered in Washington Tyne & Wear with offices in London, Oxford, Warrington and Reading, the company has already experienced major growth over the past five years with combined turnover in 2017 expected to top £75 million. 

DAC Beachcroft fielded a multi-disciplinary team on the deal drawn from its offices in Manchester, Leeds and Newcastle. Led by Corporate Partner, Paul Ellaby, the team also included William Pinnock, Ita Thomas and Rebecca Meyers (Corporate), Nick Molloy and Charles Christie (Real Estate), Richard Kay and Natalie Smith (Employment), Jo Taylor (Pensions) and Michael McCormack (Tax).

Paul Ellaby has advised Fastflow founder and CEO, Neil Armstrong, since he first acquired Fastflow Pipeline Services from Northumbria Water Group Plc in 2005. Paul subsequently advised on the establishment of Fastflow Energy Services, which maintains high pressure gas transmission assets and the acquisition of social housing maintenance business DW Support Services.

He said: "We are delighted to have been involved in such a significant transaction in the north of England. It has been extremely satisfying to have worked closely with the group over a 12-year period and to see it grow and prosper.  I've no doubt this winning combination of the Fastflow and Elysian teams can look forward to a bright and exciting future."

Neil Armstrong, founder and CEO of The Fastflow Group, said: “This business has been very close to my heart for almost 12 years and, in Elysian Capital, I have found a partner that understands what makes this company and its people special. With its support, we will continue to realise our ambitious growth targets while maintaining the Fastflow Group as a great place to work for our people and a real value added partner to our customers.”

Cavu Corporate Finance (Newcastle) brokered the deal while Lloyds Bank Commercial Banking and Yorkshire Bank provided senior debt facilities to support the transaction. Elysian Capital was advised by KPMG, Credo, Addleshaw Goddard and Aon.