Flowline Limited, a Rayleigh, Essex, UK-based drainage contractor in the South East of England, received a £3m growth capital investment from Business Growth Fund.
The investment, made in exchange of a minority stake in Flowline, enabled the business to acquire Kings Langley, Hertfordshire-based Clearaway Drainage Services Limited, supported organic growth, strengthened the senior management team and train staff to deliver new services and operate in new markets. In conjunction with the funding, Alan Horton, the former CEO of Evander Glazing & Locks, joined Flowline board as Non-Executive Chairman while BGF’s Investment Director Rory Pope joined the board.
Founded in 1991 by Managing Director Barry Robins, Flowline is a commercial drainage contractor providing CCTV pipeline surveying, high pressure water jetting, gully and catchpit cleaning, waste recycling, liquid waste tankering and road sweeping primarily into the water and highways markets.
It currently runs a fleet of 60 vehicles serving customers across London, the Home Counties and nationally when required and has revenues to over £8m in the year ending July 2014.
Customers include infrastructure owners such as Thames Water and Anglian Water.
The company operates from its head office in Rayleigh, Essex, with satellite sites near Reigate, Surrey and South Mimms, Hertfordshire and currently employs 85 staff.
Established in 1994, Clearaway adds expertise in two new markets; rail and industrial, and skills in two additional technically complex service lines in relining and robotic cutting.
FinSMEs
27/06/2014