A Hampshire-based group which specialises in water handling and treatment equipment has been acquired by Arcus Infrastructure Partners in a deal supported by prominent advisers.
Workdry International, which will remain a fully independent business, with Arcus Infrastructure Partners as majority shareholder, is the holding company for Selwood, Siltbuster and Siltbuster Process Solutions.
The deal empowers Workdry to build on the track record and growth ambitions of its Hampshire-based Selwood and Monmouth-based Siltbuster businesses by investing in innovation and new territories, supported by Arcus’ experienced team of infrastructure investment specialists.
Workdry chief executive Richard Brown, CFO Nigel Apps and their executive leadership team will continue to deliver the group’s strategy. There will be no day-to-day changes for customers, staff, or suppliers.
With 21 branches and 490 employees, Selwood specialises in pump rental engineered equipment and is a manufacturer of pumping equipment for sale domestically and internationally.
Siltbuster employs 77 members of staff and specialises in the rental of assets to provide on-site water treatment, wet waste processing and the prevention of waterborne pollution.
Arcus Infrastructure focuses on long-term investments in European infrastructure, targeting mid-market, value-add infrastructure investments with a focus on businesses in the digital, transport, logistics and industrials, and energy sectors.
PMSI provided the VCDD for the deal including in-depth analysis of the water handling and treatment equipment market and competitive environment as well as a customer referencing process for both Selwood and Siltbuster divisions.
“PMSI took the time to understand our business and how it operates. It was particularly pleasing to see that the team were happy to get ‘in and amongst it’, speaking at length with key members of staff rather than basing their research solely from sitting behind a desk. Their interaction with customers during their research was extremely professional, their questioning to them was very relevant and helped us get a real and accurate picture of how we are perceived by them. Because of the work that they put in at the start of the process, the final report gave an accurate view on the strength of our business and the opportunities that exist to continue our growth story. I would have absolutely no hesitation in recommending David and the team to anyone looking for a Commercial Due Diligence provider.”
– Richard Brown, Workdry International CEO
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