UK mid-market firm Gresham Private Equity has sold criminal fines recovery business Marston Group to Inflexion Private Equity.
Gresham Trust funded the £12m (€14.8m) buyout of Drakes Group, a bailiff and parking enforcement company, in September 2004. The company then acquired John Marston & Co, a High Court writs enforcer, in 2008.
The combined business, renamed Marston Group, currently undertakes around 600,000 instructions each year, focusing on the recovery of criminal fines, High Court writs, writs of possession, council tax liability orders, Child Support Agency liability orders and road traffic debts.
The deal was supported by Lloyds Banking Group. According to CreditToday, following the transaction Gareth Hughes has been named as chief executive while Frank Millerick, the former chief executive, will retire after 23 years in the enforcement industry.
Dow Schofield Watts Corporate Finance acted as financial adviser to Marston.