BDC invests in Matrix

The investment in Matrix was made by the Bridgepoint Development Capital III fund. The vehicle closed on £600m in June 2016 and was 49% deployed as of September 2019. It seeks to invest between £20-75m in companies with enterprise values between £30-125m.

BDC held a first close for its fourth-generation fund in May 2020 towards its target of £1bn.

The investment will go towards the company’s technology platform and making acquisitions.

Company
Matrix is a managed service provider for the outsourced hiring and management of temporary local government staff in the UK. Founded in 2008, the company is based in Milton Keynes ad reported revenue of £5.5m for the year ending on 31 March 2019.

People
Bridgepoint Development Capital – Matt Legg (director).
Matrix SCM – Mark Pepper (director).

Advisers
Equity – DC Advisory (corporate finance); Ropes & Gray (legal); CIL (commercial due diligence); BDO (financial due diligence, tax).
Management - Mazars, Alex Baskeyfield, Jonathan Newton (corporate finance); Squire Patton Boggs, Paul Mann, Louise Parker, Joshua Lodge, Geoff Perry, Claire O’Connor, Indy Bening, Ben Squires (legal).

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• Topics
• Expansion
• UK / Ireland
• Support services
• United Kingdom
• Bridgepoint
• Ropes & Gray
• Squire Patton Boggs
• Mazars
• BDO LLP
• DC Advisory Partners