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Octopus Ventures invests £2 million into Frankis Solutions Limited

03 March 2010

Octopus Ventures today announced an investment of £2.0 million from the £30 million Octopus Capital for Enterprise Fund (OCfE) into Frankis Solutions Limited (FSL), a leading provider of specialist land remediation services and groundworks. 

Investment from Octopus will provide working capital to strengthen the balance sheet, recruit additional specialist staff in order to expand its geographical footprint across the UK, and make selective investments in capital equipment. 

FSL focuses on the reclamation, remediation and restoration of contaminated land for redevelopment. The combined skills and technical expertise of the management team enable FSL to undertake every aspect of reclamation from demolition and site clearance to the complex process of remediation of highly contaminated land and the construction of infrastructure and foundations.  FSL works across a wide range of sectors in the construction industry such as residential housing, energy and infrastructure.  Clients include national and regional house builders, land developers and major civil engineering contractors.

FSL was founded in 2000 by Andy Frankis, MD, who has re-invested into the company and has built the firm to forecast turnover of £22m, and profits of £1.8m in the year to 31 July 2010.

Frankis comments:  "We pride ourselves on our ability to find innovative and cost effective solutions to ground related productions.  We have the knowledge and skills to drive the business forward but the downturn has severely restricted our ability to fund that growth.  The investment from Octopus comes at a perfect time and will allow us to both consolidate our position and fund the next stage of growth."

Rupert Bell, Investment Director, Octopus Ventures, said: "FSL is a specialist operator and one of the leaders in its field.  It has shown impressive growth despite the downturn, which had a serious impact on the construction industry, and now has a record sales pipeline.  We believe that FSL has the key attributes to continue its impressive growth and expand across the UK and we are excited about the opportunity to help them achieve this."



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