Supporting YFM Equity Partners on their investment in London Drainage Facilities and subsequent bolt-on of Blockbusters

Supporting YFM Equity Partners (“YFM”) on their investment in London Drainage Facilities (“LDF”) and subsequent bolt-on of Blockbusters Contracts (“Blockbusters”)

“It was a pleasure to work with Stuart Williams, Jack Griggs, and the team at James Cowper Kreston Corporate Finance again – they offered invaluable support, and advice throughout the transaction, and their experience advising companies in the technical services sector was of significant benefit to both YFM and LDF. We look forward to working with them again.”
— David Wrench, Investment Partner, YFM

The Situation

London Drainage Facilities is a leading provider of planned and emergency drainage repair services, operating across London and the South East from its Essex headquarters. The business has built a strong reputation for fast, high‑quality, first‑time‑fix solutions, serving a diverse customer base including hospitality, property management, social housing, education, and healthcare.

YFM Equity Partners, an experienced UK investor with a strong track record in technical services, identified LDF as an attractive platform opportunity in a resilient, recurring‑revenue market. YFM engaged James Cowper Kreston (“JCK”) for its sector expertise to support the investment and provide buy‑side advisory.

Following the successful platform investment, LDF continued to execute its growth strategy with the acquisition of Blockbusters Contracts, a well‑established drainage and plumbing specialist with over 30 years of operating history and a strong reputation across residential and commercial markets in the South East. YFM and LDF again appointed JCK to advise on the bolt‑on acquisition.

Our Approach

With a long‑standing relationship with YFM and extensive experience in the technical services sector, we acted as an extension of YFM’s deal team across both transactions, providing hands‑on financial, commercial and strategic support.

Building financial clarity and investor confidence: For both transactions, we accessed the target businesses’ financial systems and constructed robust, investor‑grade management information. This work provided YFM with clear visibility over underlying performance, cash generation, and value drivers, supporting informed investment decisions.
Shaping the investment and growth story: We worked closely with management and YFM to refine the investment case, developing a detailed business plan and translating it into a fully integrated financial model. This underpinned valuation, sensitivity analysis, and long‑term planning across the buy‑and‑build strategy.
Supporting acquisition financing: As part of the Blockbusters acquisition, we supported LDF in raising the required acquisition debt. This included preparing lender‑ready financial information, supporting discussions with potential funders and ensuring the final structure was deliverable, appropriately sized and aligned with both YFM’s and management’s objectives.
Execution, negotiation and risk management: We coordinated buy‑side diligence and adviser inputs across both transactions, ensuring YFM maintained visibility over key risks and priorities. We also advised on negotiation strategy and produced detailed commercial analysis to support discussions and decision‑making at each stage.

Tax review and advisory: Our tax specialists reviewed the proposed structures for both transactions, providing clear advice on tax implications and supporting the most appropriate and efficient outcomes.

The Result

Both transactions delivered strong outcomes for YFM, LDF, and the respective shareholders. The initial investment established LDF as a well‑positioned platform in a resilient technical services market, supported by improved financial visibility and a clearly articulated growth plan.

The acquisition of Blockbusters expanded LDF’s footprint across the South East, added complementary drainage and plumbing capabilities and enhanced the group’s ability to service a broader and more diverse customer base.

With increased scale, strengthened commercial infrastructure, and YFM’s continued backing, LDF is well positioned to pursue further organic growth and future strategic acquisitions.