IPSUM GROUP STRENGHTEN ITS FM UTILITIES AND INFRASTRUCTURES WITH NEW DEAL
Ipsum Group, which are backed by Aliter Capital, has recently completed another acquisition making it 3 in 3 years of continued growth with their deal to purchase Euro Environmental Utilities Group Ltd (EEG).
EEG is a national service provider with operations across the UK, and has a network of depots, providing 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 Preston-headquartered Ipsum’s existing drainage maintenance services and fleet of specialist vehicles, broaden its geographic footprint and add new blue-chip customer relationships. 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.
Following the deal, Ipsum Group’s revenues will more than double revenues from £25m to £54m while headcount will grow from 200 to approximately 400 staff.
“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,” said Ipsum Group chief executive Greg Fernie.
“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.”
Ipsum Group was established in 2017. This is the company’s third investment following the acquisition of CALM in February 2017 and SPEC in January 2018.