Canal & River Trust finalises sale of BWML

The Canal & River Trust has finalised the sale of its wholly-owned marina subsidiary, BWML, in a
transaction that sees LDC invest in the business, supporting the existing management team.

CRT chief investment officer Stuart Mills said: “We are delighted to have completed the sale of BWML and will be investing the proceeds into other income-generating assets to support our core work.

“BWML is performing well and we believe its prospects for future growth are good. Coupled
with the expertise of LDC we believe the business will benefit and, by extension, its boating
customers will too.”

LDC is the UK’s leading mid-market private equity investor. It is committed to backing ambitious
management teams from companies across the UK and has a portfolio of 90 businesses across
a broad range of sectors.

Chris Wright, Director at LDC in the South said: “We are excited to be able to provide the
investment to support BWML’s management team in growing this established brand in order to
enrich the experience of its marina users. With our support, management will focus on delivering
improvements across the marina sites and add new locations to further strengthen its brand and
market position.

The Trust was advised by BDO LLP, Vail Williams, and Bevan Brittan LLP in respect of the sale.

LDC was advised by DC Advisory and Gateley plc.