Bridgepoint invests in Elgin

The GP made the investment from lower-mid-market fund Bridgepoint Growth, which closed on £86m in May 2017. The vehicle makes equity investments of up to £15m in consumer, media and technology companies.

The company's growth strategy will focus on supporting the adoption of autonomous vehicles and capitalising on the development of smart cities. It will also target international expansion and look to develop new services.

Company
Founded in 2011, London-headquartered Elgin is a road traffic information provider that aggregates information from numerous official sources across England, Scotland and Wales. It operates the Roadworks.org platform, which provides live information related to roadworks, road closures and traffic disruptions, and has B2B clients including satnav providers and media outlets.

People
Bridgepoint – Duncan Calam (partner).
Elgin – James Harris (CEO, co-founder); Shane O'Neill (co-founder).

Advisers
Equity – KPMG (financial due diligence, tax); Taylor Wessing (legal); Cross Lake (IT due diligence); Marsh (insurance due diligence).
Company – WTA Partners (M&A); Gowling (legal).

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