West Yorkshire-based water monitoring firms acquired by French group SOCOTEC
SOCOTEC said the acquisition, which brings a combined workforce of 160 professionals and a revenue of £13 million, will significantly enhance SOCOTEC UK’s service portfolio, as well as extending its geographical reach.
The total turnover of SOCOTEC UK now stands at £200 million. The firm provides testing, inspection, and certification services for the construction and infrastructure sectors.
Commenting on the acquisition, Nicolas Detchepare, CEO of SOCOTEC UK, said: “The acquisitions of IETG and 40SEVEN reinforce and diversify our existing environmental division. With the addition of remote monitoring capabilities, we are now the leading provider in the UK, supporting our clients in complying with the rigorous legislation established by the Environmental Act.
“The acquisition supports our ambition to become the leading integrated player in the UK, helping businesses mitigate environmental impacts and build a more resilient, sustainable future”
In 2023, the UK Government issued the first revision of its 25 Year Environment Plan, placing a critical focus on mitigating impacts on the water environment. Water companies are now tasked with meeting stringent targets and commitments through enhanced transparency and monitoring mechanisms outlined in the Environment Act.
Ian Edwards, managing director, IETG and 40SEVEN said: “We can see fantastic opportunities ahead for IETG and 40Seven and after seven years of investment support from Bentley O-S. At this crucial time, we needed strategic investment and size, matched by a similar culture and drive to achieve our goals and continued growth strategy.
“SOCOTEC provides the ideal platform and seamless transition, whilst bringing a strategic mindset, strong covenant, credibility, financial strength, and support, and providing future opportunities for our staff to thrive and develop.
"We are excited and looking forward to the next stage of our journey within the SOCOTEC Group.”
IETG’s services include flow surveys, water quality monitoring and sampling, pollution alarms, level monitoring, temperature and hydrogen sulphide monitoring.
40SEVEN’s surveying services encompass topographical and measured building surveys, as well as underground utility and gas hazard surveying,
Herve Montjotin, CEO, SOCOTEC Group, added: “There is a perfect operational and cultural fit between IETG / 40SEVEN and SOCOTEC UK. With this seasoned and cohesive team joining SOCOTEC, we will enlarge our service offering especially in the environmental field and confirm our leadership in the UK”
The shareholders of IETG and 40SEVEN were advised by a host of Yorkshire advisers. Corporate finance advice was provided by Dow Schofield Watts, with legal advice being provided by Gordons and taxation advice from Tax Advisory Partnership.