MBO for water and wastewater specialist IETG
Water and wastewater specialist IETG Group has undergone a management buy-out (MBO) from its US parent company IDEX Corporation.
IETG and its sister company, 40Seven, now become standalone business under new parent company IETG Holdings and led by Ian Edwards, managing director, and Richard Bond, finance director. The MBO has been supported by funding from Bentley O-S.
Providing clean water, wastewater, drainage and CCTV services, IETG is a global leader in flow monitoring, while 40Seven provides specialist surveying services including utility, land and topographical surveys to users in industry, construction and the utility sector. The group employs 150 staff across the UK, operating from headquarters in Leeds and its office in Sevenoaks.
Edwards said: “Richard and I are delighted to have had the opportunity to complete this management-led buy-out. IETG and 40Seven represent great brands in their respective markets and, with Bentley O-S’ support, we very much look forward to continuing to build on the recent historical success of the business.”
Dow Schofield Watts provided corporate finance advice and due diligence services to IETG.
Tony Norwood, who led the transaction on behalf of Dow Schofield Watts, said: “While IETG has had fantastic backing historically from IDEX, it’s great to see the Leeds-based business re-establish itself as an independent company again. Ian and Richard’s leadership combined with the support of the Bentley O-S provides the group with the ideal platform for future growth.”
- EC goes out to consultation over optimising water reuse The European Commission (EC) has launched a new consultation on policy options to optimise water reuse, which is not... Read More >
- £6.2M upgrade for WWTWs in Pembrokeshire Keeston and Clarbeston wastewater treatment works in Pembrokeshire are set to get a multi-million pound upgrade which will... Read More >
- Study finds heavy microplastic pollution in UK rivers Microplastics from urban river channels are a major contributor to the pollution problem in the oceans, according to a... Read More >
- Focusing on what matters to customers Neil Croxton, Stantec's technical director - water distribution, on why it's not enough just to adopt new smart... Read More >
- Interview: Black and Veatch's Mark Kaney Black and Veatch's new director of asset management for Europe, Mark Kaney, tells Robin Hackett how the company hopes to... Read More >
- Can smart systems really make the industry more efficient? Smart water systems are gaining popularity, but the introduction of technology is only the first stage in a necessary change... Read More >
- Anglian's VR programme: Finding real virtues in virtual reality Anglian Water's Steve Havvas tells Robin Hackett why the company's new VR training programme is attracting widespread... Read More >
- Water 4.0 and the wastewater cycle To make a success of Water 4.0, the industry needs to work from the bottom up, installing the right monitoring equipment... Read More >