Bridges buys facilities management business Just Ask

The GP will take a stake of around 70% in the business, while the founders retain a minority position.

The fresh capital will be used to work with housing association customers across a wider geographic area.

Bridges aims to make a social impact through its investments by providing services to under-served populations, while making a financial return.

Just Ask aims to improve the quality of life for housing association residents via community projects and additional employment opportunities. It has recorded a compound annual growth rate of 40% according to a statement.

Company
Founded in 1972, Just Ask provides facilities management services to housing association communities, including recycling, pest control and gardening. The company generated revenues of £10m for the financial year ending in March 2017. It employs 450 people and serves 50,000 homes. 

People
Bridges Fund Management – James Hurrell (investment director).
Just Ask – Andrew Shiel (managing director).

Advisers
Equity – PwC (financial due diligence, commercial due diligence); Eversheds (legal).
Company – Hollis Gore Associates (corporate finance); Penningtons Manches (legal).

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• UK / Ireland
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• Bridges Ventures