London-based private equity firm LDC (Managers) Ltd. invested an undisclosed sum in British Waterways Marinas Ltd. in support of the current management team.
British Waterways, part of Canal & River Trust, operates 18 marinas across the U.K., with more than 2,500 boat moorings. It will use the investment to develop the existing marina estate, enhance client experience, expand its leisure services and build new locations.
Leisure industry veteran Gary Fletcher will become non-executive chairman of British Waterways. LDC Director Chris Wright and LDC Head of New Business Andy Grove will also join British Waterways' board as non-executive directors.
DC Advisory and Gateley PLC advised LDC, while BDO LLP, Vail Williams and Bevan Brittan LLP advised Canal & River Trust.