National Pipe Care gains £250,000 backing
The innovative 'no dig' pipe repair company gains backing to continue its expansion
National Pipe Care, the underground water repair company, has been backed to the tune of £250,000.
The funding from The South East Growth Fund (SEGF) is to enable the company to continue its rapid expansion.
National Pipe Care better-known as Drainmate Limited, uses innovative technologies to repair and replace underground drainage pipes without the digging up large amounts of ground as in traditional repair methods.
This is particularly effective when pipes are buried beneath roads or buildings and the company’s ‘no-dig methods’ are particularly attractive to water companies and other clients as they offer reduced costs.
Martin Woodford, managing director of National Pipe Care, said: “We are very pleased to be working with SEGF and believe that the funding and ongoing support they provide will ensure that National Pipe Care continues to deliver the highest quality service to our customers and that the business continues on its growth trajectory.”
Avent Bezuidenhoudt, who led the deal for SEGF, said: “National Pipe Care is a very exciting company to be involved in, with an excellent management team, highly specialised and sought after services and in a growing and under-serviced sector.
“Together these factors provide huge potential for continued growth at National Pipe Care and we look forward to supporting management in the future.”
The South East Growth Fund is managed by experience fund manager WM Enterprise which manages a number of regional funds across the UK.
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