Industrial Water Jetting Systems

At the time of acquisition, IWJS was a small waste-water network services provider operating out of two sites. EBITDA that year was c.£700,000

The business was deemed non-core by its owner, and the incumbent management team were given the opportunity to participate in an auction to acquire the business

Management impressed us with a thorough and well-considered forecast as to how they would grow the business into a leading player with national coverage

After management won the auction, the team more than delivered on its plan

Throughout our ownership, the business made two bolt-on acquisitions, operated out of six sites around the UK and provided a broad range of services into its market. EBITDA was in excess of £5.5m

Whilst we had no intention of selling the business, we received an unsolicited approach for it from M Group Services Limited, the national infrastructure maintenance business