Private equity deal boosts growth plans

STUART TURNER GROUP HAS announced the completion of a secondary management buyout with top-decile private equity firm Epiris, providing fresh investment to pursue its growth plans. The deal delivers an exit for leading mid-market private equity firm LDC.

LDC first backed Stuart Turner in September 2017 and supported the company in making three complementary acquisitions to expand its range of products and services. These included the acquisition of the UK’s leading mains-powered pressurisation unit and heating systems provider, Mikrofill Systems, in March 2021. This followed the additions of Fluid Water Solutions in 2019 and GAH Heating in 2018 and, alongside a strong focus on new product development, these acquisitions have helped Stuart Turner become a complete solutions provider in the pressurisation and hot water generation market across the domestic, commercial and industrial sectors.

Stuart Turner has grown its revenues by over 66%, from £24m in 2017 to more than £40m this financial year, and the company’s headcount has increased to more than 125.

Epiris will support the company as it looks to further broaden its product and geographic offering.

“We’re determined to become a full water-boosting solutions provider, not only in the UK, but expanding into international markets too. Our excellent reputation in the residential boosting market forms the foundation for our ambition within the commercial sector. Our HVAC and commercial building services offering continues to grow at pace and is already gaining traction within the market,” said Richard Harden, CEO of Stuart Turner.

“Stuart Turner is a strong platform with a tremendous opportunity ahead, not only to become the leading provider of water-boosting solutions in the UK, but also to take this expertise into international markets. We look forward to working with Richard and his team to build on Stuart Turner’s rich heritage of product innovation and manufacturing excellence,” added Charles Elkington, Partner at Epiris.

Pumps to support flood control in Paraguay

AT THE END OF 2021, THE KSB Group was awarded a contract to deliver 14 large submersible motor pumps for flood control in Paraguay.

The pumps are intended for equipping several pumping stations belonging to the “Costanera de Pilar y control de inundaciones” project.

The pumps are to be used to prevent future flooding during the high-water season along the tributaries of the Río Paraguay. The city of Pilar is located some 230 km southwest of the capital Asunción, on the border to Argentina.

Each of the submersible motor pumps of the Amacan type series weighs six tonnes and is driven by a 370kW, 380V motor. The maximum flow rate of each axial-flow pump set is about 18,000 cubic metres per hour.

Delivery of the pump sets is expected to be completed by the end of 2022.