Wed, 01 Apr 2015 | MBO/MBI
A Midlands-based wastewater firm has been subject of a management buyout (MBO).
The municipal arm of the Canadian-listed group Ovivo was acquired in a MBO. Based in West Bromwich, the company supplies, installs and maintains equipment and treatment processes used in the municipal water and wastewater industries.
The firm, which employs 70 members of staff and has a turnover of £13 million, will now trade under the name Jacopa.
The business will be headed up by industry figure Alex Lloyd, who was previously the vice president of Ovivo's municipal arm in the UK. Following the MBO Lloyd will now be Jacopa's managing director.
Lloyd said: “Jacopa is an exciting development for the UK municipal wastewater sector and will provide a comprehensive range of market-leading processes and products from a single well respected source, and which have been proven over many years to deliver on exacting customer requirements.”
Clearwater International partner Rob Britton and associate Mark Gillingham were leading the team who advised Ovivo's senior management regarding the deal. He added: “The management buyout has been a huge success for both parties. Jacopa can rise to the challenge of capitalising on the new AMP 6 methodology in the UK and Ireland, whilst Ovivo can focus on its core North American market.”
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