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20/05/2015

Wales Environmental Group expands its UK presence with the acquisition of Drainology

Wales Environmental has acquired West Country-based drainage company Drainology for an undisclosed sum from its current owners Dave West and Keith Simson with the backing of a six -figure loan from the Wales SME Investment Fund managed by Finance Wales.

Drainology, which provides customers throughout Devon, Cornwall and Somerset with a range of specialist drain services, will continue to trade under its existing brand following the acquisition.

Having successfully acquired and integrated Cardiff Drain Cleaning Company (Cardiff Drains) into the business in 2014, the Drainology acquisition is part of Wales Environmental’s plan to increase its UK footprint.
 
Llyr Williams, Wales Environmental’s Managing Director, is excited about the company’s future: “The acquisition of Drainology is an important part of our long-term strategy to increase our UK footprint.  Drainology has an impressive reputation and many loyal customers and its services complement the services Wales Environmental offers.  We’re now well placed to increase our customer base in the South West of England.

“Finance Wales continues to be a long-term backer of Wales Environmental, funding our management buy-out in 2011 and then our acquisition of Cardiff Drains last year.  Acquiring Drainology has further increased our capacity, provides us with an operating centre in a key market, and will enable us to improve our operational effectiveness.”

With depots in Cardiff, Pembrokeshire, Holywell, Oxford  and Anglesey, Wales Environmental is already one of the UK’s fastest-growing waste management / drainage companies.
 
This acquisition is a significant step forward for the company, increasing its fleet by 20 per cent.

Finance Wales Portfolio Executive Sam Macalister-Smith made the investment.  He said:  “Acquiring Drainology is another step forward in Wales Environmental’s exciting growth journey and has increased its customer base in the South West of England.  Wales Environmental will now be able to build on Drainology’s strong reputation and significant market presence.

“Wales Environmental is an established Welsh business with an experienced and successful management team.  The company has already made impressive progress towards achieving its long-term plans with Finance Wales’ backing. We wish them well as they integrate the two companies’ operations.”

With the acquisition of Drainology complete, further expansion is in the pipeline at Wales Environmental in the coming years as the company looks to strengthen the range of services it can offer.

Finance Wales and HSBC backed the 2011 MBO and Finance Wales has backed this acquisition with an undisclosed investment.