The business operates primarily in the North West, Yorkshire, North East, Midlands and North Wales. As well as providing specialist refurbishment and responsive maintenance services, Forrest undertakes development and estate renewal services for local authorities and housing associations.
Forrest is a leading construction services provider.
LDC invested in the business in Forrest in 2007 to support the company’s future growth plans.
Since the original transaction, significant investment was placed into the new environmental services division, new IT infrastructure to improve service delivery was implemented and a new regional service centre in Bolton opened. The company has grown its turnover by 160% with profits doubling.
In 2013 LDC partially exited Forrest following a secondary buyout by Palatine Private Equity. The transaction provides LDC and Palatine with a combined majority stake in Forrest and represented a 2.4x return on LDC’s original investment.