March 2023

Acquisition and growth capital to fund the development of off-site construction of modular building solutions for the healthcare sector.

Trevally Capital Ltd, in conjunction with finance arranged by Trevally Capital Advisers Ltd, has provided £6,350,000 of growth capital to Catfoss Enterprises Ltd (‘Catfoss’), a group specialising in off-site construction for the healthcare sector. Catfoss, founded by Andrew Foreman and now run by Ben Foreman, offers design & build modular solutions principally to the NHS, as well as owning a portfolio of modular buildings and cabins that it leases to the transport, construction and industrial sectors. The new funds have financed the acquisition of freehold properties, the refinancing of existing debt facilities and the provision of working capital.

Catfoss is a member of the NHS Shared Business Services Modular Construction Framework, which enables it to bid for tenders which have been posted by NHS Trusts. Since 2018, it has worked on projects at 12 NHS trusts worth over £55 million, including Burton Hospital and Northampton General Hospital, and has a strong pipeline of new projects.