BGF injects £2m into Drainology

The fresh capital will enable the business to expand its operations across the south west of England via bolt-on acquisitions and organic growth.

In the past two years, Drainology has acquired Deeside-based Drains Direct and Cardiff Drain Cleaning Company.

On completion of the deal, BGF's southern England regional director Paul Oldham will take a seat on the company's board.

HSBC has also provided a £1.75m debt package to support the deal.

Company
Founded in 1995 and headquartered in Okehampton, Devon, Drainology is a waste management company focusing on drain repair and surveys. The business has a headcount of 80 and generates a turnover of around £7m.

People
BGF - Simon Williams (regional director); Ned Dorbin (investment director); Dan Tapson (investor).
Drainology - Owen Sennitt (chairperson); Llyr Williams (managing director).
HSBC - Warren Lewis (head of corporate banking in Wales).

Advisers
Equity - Geldards, Andrew Morris, Geraint Tilsley (legal).
Company - Acuity Legal, Christian Farrow (legal); Gerald Thomas, Phil Williams (tax); Curia Corporate Finance (corporate finance).

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• Topics
• Expansion
• UK / Ireland
• Industrials
• BGF (Business Growth Fund)
• United Kingdom