Bridges Fund Management's first investment in the North
We have advised private equity investor, Bridges Fund Management (Bridges), on its first transaction outside of London – its investment in and partnership with Matrix Telematics (Matrix).
Bridges opened its Northern base in Manchester in December 2020 and its investment in Matrix, led by Partner, Simon Braham, is the first deal completed out of that office. The investment values Matrix at over £60m and sees Bridges back the existing management team, led by CEO Mark Packman, who founded Matrix in 2001.
Paul Jefferson, head of private equity at Gateley Legal led the Gateley team advising on this deal, assisted by corporate partner, Andrew Cowan and corporate solicitor, Hannah Silverstone. The team was supported by tax legal director, Richard Clitherow and banking & finance senior associate, Christopher Lister.
Paul commented: “We are delighted to have advised Bridges on the first investment out of their Manchester office and to welcome Bridges as a new PE client of Gateley. We wish Mark and his team all the best moving forward. I am certain that Bridges’ backing will be instrumental in enabling Matrix to maximise the substantial opportunities for growth in their sector.”
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