Cobbetts LLP’s corporate practice in Birmingham has advised Midlands-based claims management provider the UK Drainage Network Limited (UKDN) on the multimillion pound sale of a majority stake to private equity investor, Lyceum Capital Partners LLP.

UKDN, which is headquartered in Marston Green, Birmingham, is a £20 million turnover business that provides claims management, remediation, validation investigation and repair services to UK insurers. The company has 11 offices nationwide and 230 directly employed skilled operatives.

UKDN simultaneously acquired five existing contract partners in 2007, in the first stage of its development strategy. At the beginning of 2009, the business acquired its second fixed drainage division from Homeserve plc, establishing UKDN as a market leader in the insurance-based drainage sector.

Corporate partner Graham Muth led the deal team for Cobbetts, assisted by Nick Dawson. Graham said: “The rate at which UKDN has grown in recent years is a credit to the vision of its management team, which has delivered sustained growth through its recent acquisitions.  Having successfully integrated those businesses, this latest investment marks a new chapter for the group, which can now look to build on its strong market position.”