TDC backs cost-saving consultancy, Great Annual Savings

Manchester-headquartered Tosca Debt Capital (TDC) has backed a cost-saving consultancy specialist in a deal worked on by global investment bank, GCA Altium.

Founded in 2012 by CEO Brad Groves, Great Annual Savings (GAS) provides consultancy services to UK and Ireland-based SMEs, including energy procurement, energy management, water, telecoms, insurance and fire safety.

The business serves more than 6,000 customers and is headquartered in Seaham.

TDC’s investment will enable GAS to continue its impressive growth trajectory, further penetrating the SME energy intermediary market and facilitate an exit for early-stage private investor shareholders.

TDC is the UK’s only regional debt fund, providing debt capital to support the growth plans of some of the UK’s most ambitious businesses.

The investment was led by TDC Founder and Partner, Gary Davison, who was supported by Stuart Thwaites and Oliver Reece. Addleshaw Goddard provided legal advice to Tosca.

The shareholders of GAS were advised by GCA Altium’s Adrian Reed, Mark Smith, Matthew Furness and Rob Liguz. Pinsent Masons provided legal advice to the shareholders, whilst EY provided financial, commercial and tax due diligence services.

Brad Groves, CEO of GAS, said: “The group’s new partnership with TDC represents a significant milestone in our exciting journey. The investment will facilitate significant growth plans over the next 12 months and help us work towards our vision of becoming the leading UK provider of great cost savings to businesses.

“I would like to personally thank all parties involved in this process and we look forward to working with the team at TDC on our next phase of growth.”

Adrian Reed, Managing Director at GCA Altium, added: “GAS has grown into a market-leading provider of cost-saving services to UK SMEs. This success has been built upon a unique company culture that runs throughout the team in everything they do.

“It has been a pleasure to have worked with Brad, Matt and everybody involved to achieve this investment which will enable significant further growth and ongoing success”