Horizon Capital, the private equity investor specialising in technology and business services, today announces the successful sale of its portfolio company Bellrock to Sun European Partners. Bellrock, one of Horizon’s 16 investments, is a leading provider of specialist risk focused workplace & property management solutions.
Bellrock serves public and private sector customers across the UK, employs more than 1,500 professionals and works with more than 2,000 supply chain partners on behalf of its clients. During the period of Horizon’s ownership, revenues quadrupled to over £160m driven by organic growth and the acquisition of 11 complementary companies which broadened delivery capability and added depth in new sectors and geographic reach. Bellrock’s transformation has been underpinned by continuous investment in its technology platform Concerto, placing the business in a strong position to capitalise on estate digitisation and future trends in the facilities management and property markets.
”It’s been an absolute pleasure working alongside David, Gerry, and the wider Bellrock team over the past few years. We’re delighted to have helped guide the business through a complete transformation into a leading market disrupter – and congratulate the team on securing backing from Sun European. We wish everyone well on the next leg of their journey.Jeremy HandChairman, Horizon Capital
”I would like to thank Horizon Capital, who through our journey together, have helped us deliver, expand, and evolve Bellrock into the market-leader it is today. We are proud to offer the FM market a differentiated proposition challenging the traditional low service FM delivery model. Our management team are fully committed and excited about the next stage of our journey and working with Sun European to realise the full potential of the business.David SmithCEO, Bellrock
”Witnessing Bellrock’s growth from a small retail focused Facilities Management provider into its present position as the UK’s leading holistic FM and property services business has been one of the highlights of my business career. With technology at its core and customer service firmly established in its DNA, the company is now uniquely positioned to benefit from the opportunities provided through this exciting partnership with Sun European. Clear strategic insight coupled with supportive capital investment from Horizon Capital has enabled David and his team to build an innovative, market disrupter in the traditional property and FM sector.Gerry HigginsBellrock, Chairman