The annual awards, which took place on 30 June 2011 at One Marylebone, London, celebrate the positive impact private equity-backed businesses have had on the UK and wider European economies over the past 12 months, and recognise the achievements of the management teams that lead them.
Forrest, unveiled as the North West regional winner of its category in May 2011, claimed the national prize after demonstrating its successful integration of environmental, social and governance practices into operations to enhance performance, and minimise reputational and financial risks.
The company provides planned and responsive maintenance, building management and new build housing, and specialises in green retrofit programmes, for local authorities and housing associations.
Forrest’s environmental improvement strategy sees it work alongside clients to devise low carbon initiatives tailored to the needs of existing or new buildings, using a broad spectrum of energy efficient measures, including micro-generation renewable technologies such as solar thermal installations.
Lee McCarren, CEO of Forrest, said: “This award highlights the progress we’re making in improving both the physical environment of the developments that we refurbish and maintain, and the green benefits we deliver to our partners and their tenants, including greater energy efficiency.
“Our focus on environmental improvement has seen us make significant gains in our market - both in terms of share of sales and technological advancements - and is a credit to the vision of our management team and committed employees, as well as the continued support of LDC.”
The Manchester office of LDC backed the management buyout of Forrest in July 2007, and has since assisted in expanding the company’s services and opening several regional offices, including sites in the North East, Yorkshire and the West Midlands.
Figures for the year ending August 2010 saw Forrest grow underlying profits (EBITDA) by 9.5 per cent to £6 million and increase turnover by 11 per cent to £52.3 million.
Jonathan Bell, director at LDC in the North West, commented: “As an active investor, we’re committed to supporting the growth aims of our management teams and are delighted that the strength, commercial acumen and dedication to innovation displayed by Forrest has been recognised by the BVCA.
“The company’s ongoing focus on its environmental proposition is creating significant growth opportunities in its current target sectors, and across new UK regions and markets.”
ENDS 1 July 2011
Issued on behalf of LDC by Citypress:
Martin Currie Dave Lafferty
Citypress Citypress
T. 07976 291532 T. 0161 235 0318 / 07545 211 511
E. martin.currie@citypress.co.uk E. dave.lafferty@citypress.co.uk
Notes to editors:
About LDC
- LDC (Lloyds TSB Development Capital) is part of the Lloyds Banking Group and is authorised and regulated by the Financial Services Authority.
- LDC has, since 1981, completed over 400 investments, has ongoing interests in over 60 businesses across the UK.
- LDC back ambitious management teams from UK-based companies seeking between £2m and £100m of equity for management buy-outs, institutional buy-outs or development capital transactions.
- LDC invests in a broad range of sectors and has particular experience in Construction & Property, Financial Services, Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure and Support Services.
- LDC has a UK regional network alongside an international operation based in Hong Kong.
- For more information, visit www.ldc.co.uk.