NEWSDESK
YFM makes significant investment into London Drainage Facilities to accelerate growth
This investment will enable London Drainage Facilities (LDF) to build on its market-leading service offering in the drainage repairmarket with plans for a high growth future after partnering with YFM.
LDF is led by Danny Fuller,managing director, who founded the business with Lucie Fuller, business operations director 17 years ago.With amission of providing fast, high-quality, first-time fix drainage services, LDF has built an impressive base of hospitality, facilities & property management, social housing, education and healthcare customers. Covering London and the South East 24/7 and 365 days a year, LDF is the go-to provider for emergency drainage problems, detection and repairs.
Headquartered in Ongar, Essex, LDF has grown to a teamof over 85, including more than 45 specialist drainage engineers, who have undertakenmore than 12,000 jobs in the last twelvemonths covering investigations & unblocking, CCTV surveys, planned preventative maintenance, gullying & jetting and remedial repair works, including lining & patch repairs.
Danny Fuller,Managing Director of LDF commented: “We are very proud of LDF’s journey to date, but our partnership with
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YFMis about taking the business to the next level. YFM’s experience in scaling similar businesses is what we have been looking for. YFMhas also spent considerable time getting to know us and our business, so we are pleased to welcome themon board not only as an investor but also as a partner.
We have ambitions to grow our engineering team, provide wider geographical coverage and a broader range of services, and further developing our planned preventativemaintenance offering.We have found a partner in YFM who can help us realise our vision and ambition and we look forward to the next chapter.”
Veteran private equity Chair Adrian Ringrose, ex-Interserve CEO will join the business at completion, providing strategic support and guidance to the management team.
Adrian Ringrose, incoming Chair commented: “LDF is a best-in-class service provider that has an embedded culture of putting customers first. I amdelighted to be joining LDF to work with Danny and Lucie over the next phase of their journey.”
YFMhas a strong track record of supporting businesses in the technical services space, having backed theMBOs of Checkmate Fire, a passive fire protection
| June 2023 |
www.draintraderltd.com
L-R: Lucie Fuller (Business Operations Director), Ben Pitt (YFM),
Adrian Ringrose (incoming Chair), DavidWrench (YFM) and Danny Fuller (Managing Director).
specialist; RGE Services, a fire and electrical compliance services provider; loss adjusting and claimsmanagement specialist GHG; and SOS, an escape of water leak detection specialist. Partner DavidWrench will join the board of directors at completion.
DavidWrench, YFMinvestment partner commented“LDF is a high-quality specialist with an impressive track record. The company has demonstrated strong growth year on year and we have been impressed with Danny and his teamand their deep sector knowledge and commercial approach. Our investment is about unlocking LDFs potential, and we are excited to be supporting with this.”
YFMEquity Partners has been investing in growing businesses in the UK since 1982, with a focus on helping themto scale.
The YFMteamcomprised DavidWrench, Ben Pitt and Jamie Roberts. Advisers to YFMincluded James Cowper Kreston (StuartWilliams and Jack Griggs, corporate finance advice); Birketts (AdamJones, legal work); PMSI (Will Durbin, commercial due diligence); HMT (Paul Read and Corin Briault-Hutter, financial due diligence); Grant Thornton (Richard Joyce, IT due diligence); and Continuum(Steve Wycherley, organisational and people due diligence).
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