Removals firm Doree Bonner International gains 'significant' private equity investment

Removals business Doree Bonner International has received a “significant investment” from a private equity investor.

The Dartford-based company, which employs about 200 people, has been backed by Amin Amiri, founder and chief executive of investment firm A2E Industries.

The business, which has been trading for nearly a century, is in the top 10 international and domestic removal companies in the UK.

Doree Bonner International has attracted private equity investment
Doree Bonner International has attracted private equity investment

All its key executives will remain in place following the investment and Mr Amiri will join the board of directors to focus on strategy, acquisition and finances.

A new chief operating officer, Jason Herbert, has also joined.

Its most recent accounts for the year to the end of November 2016 show turnover increased 15% to £14.7 million, while pre-tax profits increased 36% to £678,000.

The investment was brokered by advisory firm Beavis Morgan and its partner Cadence Advisory.

Chief executive Geoff Watson said: “Cadence Advisory provided helpful and constructive support to the shareholders and the finance team in relation to the proposed ID facility, both in terms of day-to-day operations, as well as explaining the issues around our contractual and complex debtor book.”

Beavis Morgan senior partner Peter Drown said: “We have known [Doree Bonner] for 23 years and we are delighted to have successfully facilitated the investment by Mr Amiri.

“The [Doree Bonner] team has built a strong business and they have a significant presence in the removals industry both internationally and closer to home.

“We wish Amin and [Doree Bonner] all the very best in implementing their growth plans over the coming years and look forward to seeing the business go from strength to strength.”

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