The Business Growth Fund (BGF), an independent company set up to support business growth in the UK, has bought a minority stake in one of South East England’s leading drainage contractors, the company has announced.
Flowline will use the £3m growth capital to acquire Clearaway drainage services, helping the company to expand into the rail and industrial markets. The money will also help to strengthen the senior management team, train staff and stimulate organic growth.
Founded in 1991 by Managing Director Barry Robins, Flowline is a commercial drainage contractor that provides high pressure water jetting, CCTV pipeline surveying, and a range of cleaning and waste recycling services. Based in Rayleigh, Essex, the company employs 85 staff members and has built up an impressive portfolio of clients including Thames Water and Anglian Water. This year, its revenues have grown to £8m.
“This is an exciting opportunity to back a well-established business operating in a robust sector,” said Rory Pope, Investment Director at BGF. “Flowline has a clear growth strategy based on continuing to win new contracts for its existing services, and expansion into new markets where substantial opportunities exist such as rail and industrial, supported by the strategic acquisition of Clearaway. We are looking forward to partnering with Barry and the management team to drive the business forward and capitalise on the opportunities that exist for them.”