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A British entrepreneur behind an eco-friendly landscaping business that counts the Royal Parks among its customers is in line for a £40m payday.
Peter Fane, 60, owns 21pc of Nurture Landscaping Group, which has just secured investment from private equity firm All Seas Capital in a deal valuing the business at around £200m.
As part of the deal employees will see their shares valued at a collective £20m, receiving an immediate payout worth £7m.
Mr Fane’s children are also the beneficial owners of stakes worth around £30m that are held in trust.
Nurture was founded by Fane in 2008 and today boasts annual sales of more than £125m, employing 1,850 staff.
The company, which has a Royal warrant, provides landscaping, pest control and other gardening services to customers including the Royal Parks, the Ministry of Defence, Greene King and Royal Mail.
It follows years of deal making by Mr Fane, who is executive chairman and has spent the past 15 years consolidating family gardening businesses into Nurture.
As a result of the deal, All Seas founders Cristobal Cuart and Marc Ciancimino will take seats on Nurture’s board.
Mr Fane is expected to remain in post as executive chairman, where he focuses on strategy and acquisitions.
He said: “The market is wide open for us to substantially build this business.
“So this deal is sort of reset, allowing some people to get off the bus taking a bit of a bit of money off the table, some people to retire or part-retire, and for some new blood to come in and move us forward over the next five year journey.”
He said the business also aims to focus on further improving its green credentials by going net zero by 2030.
Mr Ciancimino, of All Seas Capital, said his firm aimed to invest in “established founder and entrepreneur-owned companies that have already reached a certain scale but can benefit from our support and capital”.
Mr Fane previously owned and ran a grounds maintenance company called Waterers Landscape with his brother Mark, the owner of garden nursery business Crocus.
They sold that company in 2003.
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