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The Bridgman Group, parent of enforcement services company Drakes
Group Limited, has signed a £4.2 million funding
agreement with Lloyds TSB Acquisition Finance.
The funding will provide scope for the group to make
acquisitions, invest further in technology and repay existing debt. In 2002,
Drakes Group underwent a management buy-out, with mid-market private equity firm
Gresham LLP investing £7.6m.
Drakes
Group Limited is the UK’s leading provider of enforcement services to local
authorities and magistrates courts. It also provides a range of ancillary
services, including commercial rent collection, debt recovery, and asset
protection. Key
clients include Transport for London (congestion charge), the City of
Westminster, London Boroughs of Camden and Hammersmith & Fulham, the Corporation
of London and the Greater London Magistrates’ Courts Authority. |
