North West based firm on drive to become a leading national utilities and infrastructure specialist
A leading utilities and infrastructures services provider has announced its third acquisition in two years. North West based Ipsum Group, backed by Aliter Capital LLP, has today announced the completion of the acquisition of Euro Environmental Utilities Group Ltd. (EEG Ltd) for an undisclosed sum. The transaction includes the acquisition of EEG’s Scotland, North of England and Midlands-based operations but excludes its Andover-based South of England operations.
EEG is a national service provider with operations across the UK, and has a network of strategically located depots, delivering a range of services to the UK utility, facilities management and infrastructure sectors, including drainage maintenance and repair, civil engineering, telecoms, vegetation management, asset mapping and flood prevention. The investment in EEG will strengthen Ipsum’s existing drainage maintenance services and fleet of specialist vehicles, broaden its geographic footprint and add new blue-chip customer relationships.
The deal will see Ipsum Group more than double revenues from £25M to £54M and grow from a headcount of 200 to approximately 400 staff, creating development opportunities for its staff.
Greg Fernie, CEO of Ipsum Group, commented; “This acquisition represents a major part of our growth strategy and will increase our presence nationally to allow us to offer a broader range of services and innovative solutions to a more diverse customer base. The deal forms part of our wider strategy to create a leading national utilities and infrastructure specialist services provider with coverage across multiple sectors, including utilities, rail, highways, nuclear and renewable energy.”
This is the company’s third investment following the acquisition of CALM in February 2017 and SPEC in January 2018.