Vestum
Vestum acquires UK market leader in wastewater pumping stations
Vestum AB (publ) ("Vestum") has today - through the subsidiary Pump Supplies Ltd ("Pump Supplies") - acquired all shares in PDAS Holdings Ltd ("PDAS"). The company will be part of Vestum's Water segment. During the broken fiscal year 2023/2024, PDAS generated sales of just over SEK 200 million and an EBITA margin in line with the Vestum Group. The purchase price was financed through own cash and existing credit facilities.
About PDAS
PDAS was founded in 2014 and is a UK market leader in proactive maintenance and intelligent monitoring of wastewater pumping stations. The company specialises in the design, supply, installation, refurbishment and maintenance of adoptable pumping stations, packaged pumping stations and storm attenuation systems for residential and commercial developments across the UK. A significant part of the offer consists of intelligent monitoring systems through remote telemetry and cloud-based technology for service and maintenance of pumping stations that allow pump specialists to monitor customers' pump systems in real-time with the aim of streamlining maintenance works.
PDAS has 63 employees and is headquartered in Surrey, England.
About Pump Supplies
Founded in 1982, Pump Supplies is one of the largest suppliers in the UK of electric submersible water pumps. The offer includes drainage, sewage and slurry pumps as well as an extensive range of accessories and pipe systems. Pump Supplies operates through five depots in England, Wales and Ireland.
Pump Supplies has 89 employees and is headquartered in Gloucester, England.
Comment from Vestum’s CEO Simon Göthberg:
I’m proud that we today can announce the acquisition of PDAS, which constitutes an excellent add-on acquisition to Vestum's largest company Pump Supplies. With its strength in intelligent monitoring systems, PDAS can leverage the broad customer network built in Pump Supplies over the past 40 years to further accelerate growth in recurring revenue. There are concrete synergies on both the revenue and cost side, and the acquisition strengthens Vestum's already strong position within water infrastructure in the UK. The acquisition of PDAS is Vestum's first acquisition in two years and demonstrates our strategy to grow the Water segment, both through high organic growth and acquisitions. Our ambition is to grow the Water segment to become Vestum's largest segment, says Simon Göthberg, Vestum's CEO.
Advisors
Grant Thornton has provided financial advice and Thrings has acted as legal advisor to Pump Supplies in connection with the acquisition.
| Datum | 2024-08-09, kl 08:30 |
| Källa | MFN |
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