Wed, 21 Dec 2022 | BUSINESS NEWS
Water and environmental sustainability firm Stonbury has said it will target acquisitive and organic growth opportunities after securing backing from private equity firm LDC. The Bedfordshire-headquartered firm provides maintenance, repair and refurbishment services to water companies and environmental agencies across the UK.
The company has secured the funding from LDC’s East of England and East Midlands team, which will support its management team, led by CEO Trevor Hoyle, in executing the firm’s growth plans. Stonbury plans to grow organically and via M&A in order to expand its low-carbon environmental, water and wastewater services.
The investment was led by LDC partner and Head of East Midlands and East of England David Bains, alongside investment managers Nicole Wong and Mikayil Salahov. Post-acquisition, Bains and Wong will join Stonbury’s board.
Stonbury CEO Trevor Hoyle commented: "Sustainability sits at the heart of the challenge water companies and environmental organisations are facing. Creating a more resilient and efficient water network and a healthier, safer environment will be vital to reduce the impact of significant weather events. Stonbury is well-equipped to support our clients with low-carbon and nature-based solutions.”
"We knew from the moment we met David and the LDC team that they were the right investment partner for us. Their relationship-first approach and extensive network of connections were important factors in our decision. With LDC's support, we are actively exploring organic and acquisitive opportunities to expand our range of services."
LDC's David Bains added: "LDC is committed to helping companies that contribute to a more sustainable future. Stonbury's clear purpose focuses on sustainability and its experience and expertise over many years make it well-placed to support the water and environment industries in mitigating the impacts of climate change.”
"We're looking forward to supporting Trevor and the rest of the management team to continue building Stonbury into one of the UK's leading critical infrastructure services businesses."
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