Bridges Fund Management has taken a majority stake in facilities management business Just Ask.
It invested £9m in the company, which works exclusively with housing associations and serves more than 50,000 homes, mainly in the South East.
Bridges said the focus of the investment was on creating jobs and improving the living environment for housing association residents, who are statistically more likely to have physical or emotional wellbeing problems and are less likely to be in employment or training.
With increased investment, Just Ask is planning to work with more housing associations across a wider geographic area.
Although Just Ask’s existing management will remain, Bridges has recruited John Simpson-Dent as non-executive chairman and Paul Giuffredi as finance director for Just Ask. Simpson-Dent was previously chief commercial officer for ATM operator Cardtronics, while Giuffredi joined from e-commerce business Baker Ross.
James Hurrell, investment director at Bridges, said: “Just Ask really stood out within the market because of its specialist housing association focus, its track record of growth and its reputation as a best-in-class quality operator.
“This is a great example of a business where helping to tackle a big social challenge – in this case, creating jobs and improving wellbeing outcomes for an underserved population – can also drive strong commercial growth.”
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