Ashcombe is pleased to announce that it has advised First Mile on an investment by Growth Capital Partners (“GCP”).
First Mile provides flexible, reliable and low cost recycling services for businesses. The company has revolutionised the way businesses recycle with a customer-service led model underpinned by great technology. First Mile currently serves 17,000 businesses across London and Birmingham, with 20 new business customers signing up every day.
The investment by GCP, who took majority control of the business, will allow First Mile’s team to deliver its growth plan, underpinned by investment in infrastructure and operations to ensure high service levels to new and existing customers.
Bruce Bratley, CEO and founder of First Mile commented, “We have been working with Ashcombe for over 3 years, devising the best strategy for the business to capitalise on the enormous growth opportunity. They helped us work out our objectives, align all stakeholders, put together a plan, and raise the capital from the right partners for the next stage of growth. I am delighted with the result and look forward to working with them again.”
Simon Bullivant, Founding Partner of Ashcombe, added: “First Mile is such a high quality business that it was easy to attract offers. It is led by a very strong management team that we have enjoyed working with, and I look forward to watching their continued growth. They are in the right segment of the market, with by far the best customer offering. It is rare that we work with a business over such a long period that doesn’t miss a beat.”