Tue, 06 Feb 2024 | BUSINESS SALE
Lanes Group, a national drainage and wastewater utility specialist, has completed the strategic acquisition of a counterpart. The firm has acquired drainage services provider Clear-flow Ltd in a deal advised on by RSM UK.
The acquisition of the Cornwall-based firm supports Lanes Group’s strategic growth plans within the UK’s utility sector. Lanes Group is headquartered in Leeds and has grown to encompass a network of 25 UK locations and a more than 4000-strong workforce.
The group provides services across the utility, local government, rail, transportation, telecoms, construction and domestic sectors. Clear-flow, which has been operating since 1982, provides drainage services throughout the South West.
Lanes Group views the acquisition as supporting its UK expansion ambitions, with the deal bringing two strategically aligned businesses together that are both established operators in the utility sector. The deal also bolsters Lanes Group’s existing activities in the South West.
Lanes Group was advised on the deal by RSM UK’s North West deal team. The team that managed the acquisition was led by RSM Corporate Finance Director Rikesh Patel alongside James Wild, with support from Ben Everson and Austin Halewood and legal advice provided by Keith Kennedy of Pearson.
Lanes Group Director of Finance Julie Hobbs said: "The RSM team offered its wealth of acquisition experience and expertise to the process, which resulted in an effective and seamless transition for all involved."
RSM UK’s Rikesh Patel commented: "It was great to support Lanes Group on this acquisition as it enters the next phase of its growth strategy. Combining the two companies’ knowledge, networks and resource will help facilitate the group’s long-term growth plans and enhance its market presence regionally and nationally."
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