SpringRock, the private equity company specialising in the built-environment, has invested in UK based Main Contractor, CNG, to support its ambitious growth plans.
CNG was formed in 2020 by Leigh Edmondson, Andrew Elsworth and Rob Padgett who have previously worked for some of the UK’s leading Tier One Main Contractors in senior management roles, and have a proven track-record in the construction industry.
CNG will initially focus on projects in the residential, retail, education and office sectors, with safety and sustainability forming a key part of their growth strategy. Furthermore, CNG intends to become a leading force in the use of modern methods of construction (MMC) to enable improved predictability in terms of cost, time and quality. The benefits of this approach to construction includes quicker, cheaper, better homes; less health and safety risk; more diversity; and reduced material waste, energy use and vehicle journeys.
‘Using Modern Methods of Construction creates the chance to improve the quality and energy efficiency of homes, as well as increase the safety of building sites.’ Nick Walkey, CEO – Homes England
Rory Chichester, Director of SpringRock, said: ‘We have known Leigh Edmondson for a number of years. He is a proven operator and we are looking forward to working with him, Andrew and Rob to capitalise on the many opportunities we see in the UK construction market for an agile, mid-sized contractor with a deep understanding of risk management.’
Leigh Edmondson, Managing Director of CNG, commented: ‘This investment from SpringRock will support us through our next phase of growth. It will enable us to increase our pipeline of projects to create, transform and regenerate spaces for people and the built environment. We are looking forward to working more closely with Rory and Oliver in an advisory capacity as they join our Board as Non-Executive Directors.’
The funding from SpringRock will enable CNG to build on its current order book as it seeks to strengthen its position as a leading mid-sized contractor with a national operating capability.
SpringRock were advised on the transaction by Andrew Ross and Troy Featherstone of Marriott Harrison LLP.
