Pump Supplies was founded in Port Talbot in 1982 by Andrew John, when he acquired a fleet of Electric submersible pumps from a former employer that was re-focussing its business. Over the following 20 years Andrew and his fellow director Barry Jones expanded beyond his firm’s original South Wales headquarters to open depots in Gloucester, Bodmin in Cornwall, Wexford in Southern Ireland and finally Winsford in Cheshire. During these years, one of the core values was always to continue to invest in the company’s hire fleet.
Around half of the company’s turnover is derived from the UK’s municipal water companies, but Pump Supplies also works on civil engineering projects and with local authorities, utility companies, mines and quarries. Its highest profile work tends to be in providing emergency relief in response to extreme flooding. Possibly its most memorable operation to date has been the contribution it made in providing, from stock, a vast amount of pumps and pipework to help save Toddbrook Reservoir Dam from collapse and flooding the town of Whaley Bridge in August 2019.
Lakers, headquartered in Oslo, Norway has over 350 employees across Northern Europe and by adding Pump Supplies to the group they will reach an annual turnover close to £100m. The Lakers group is backed by Summa Equity and has to date made 25 acquisitions over a five-year period. Its ambitious growth plans made the acquisition of Pump Supplies a strategic one; securing a stronghold in the UK via the purchase of one of the most highly specialist, reputable players in the market.
Jessica Painter, a partner with corporate finance specialists Watersheds, said the firm is delighted to have helped Andrew achieve his ambition, particularly during the third lockdown in the Covid-19 pandemic.
“Having confidentially marketed the business we quickly helped Andrew find the right buyer for his business of nearly 40 years. Watersheds resourced the transaction over the Christmas period and, despite the challenges of lockdown, ensured the deal completed within 10 weeks of the first discussion and in time to beat the budget.”
Andrew said: “I can’t thank Watersheds and Jessica enough for their help and guidance, particularly at a time when many deals are collapsing because of the uncertainty around the pandemic”.
“They made the entire process so easy for me, presenting complex issues in understandable terms and genuinely advising me through the decisions I had to make. It has been a great journey for the past 39 years, one that I have thoroughly enjoyed with the support of some great people and customers over the years; I’m very much looking forward to the next stage.”