In 2013, Horizon Capital mapped the facilities management market and identified Bellrock as a attractive platform for transformation into a technology-enabled, white-collar provider of specialist risk focused workplace & property management services.
Today, Bellrock is recognised as a market leader, serving more than 700 public sector and commercial customers across the UK and Ireland, with nearly 90% of its revenues recurring and a contracted order book covering 3 years forward revenues. All Bellrock’s services are underpinned by a world-leading technology platform, helping improve customer service, reduce cost and mitigate risk.
The Journey so far
At completion, Horizon Capital recruited a sector expert Chairman and over time strengthened the management team bringing in a new CEO, FD, sales and operational heads. The new team successfully repositioned the business, helping drive above-market organic growth, M&A activity and more than trebling profitability.
Horizon Capital has heavily invested in Bellrock’s technology backbone. Today, the business offers a differentiated one-stop, data analytics platform, driving efficiency and providing complete transparency for its customers over costs and compliance. Bellrock has a strong presence in the public sector, managing healthcare and education settings as well as geographically spread, complex and multi-site private sector property portfolios.
At the time of acquisition, Bellrock’s sales and marketing engine had been neglected. Horizon supported significant investment in order to take advantage of the market opportunity and has since seen above-average growth rates for the sector.
Buy and Build
10 add-on acquisitions have been completed to date. Acquisitions have added technology capability, adjacent high-value compliance services that can be cross-sold and scale for the core business across both existing and new verticals. Further add-ons are under active review.