Industrial Pumps Ltd is a leading pump distributor and maintenance company. An approved supplier for many of the world’s pump manufacturers, the company supplies and installs pumps in many industrial sectors. They also provide maintenance and repair services and related engineering services.
When the previous owner wanted to retire, managers David Carley and David Stacey were keen to see if they could buy the business, but needed additional finance to be able to do so. They had growth plans too and wanted a partner that could support their goals.
They took advice and were introduced to us by a local firm of accountants and advisors.
"This investment from UKSE has provided us the opportunity to carry on building the company’s reputation and work towards our ambitious growth plans."David Carley
How we did it.
We invested £500,000, buying shares in the company alongside the two new directors, David Carley and David Stacey, as well as providing an unsecured loan.
This enabled the team to buy the company they worked for, even though the total price was many times what they could invest themselves. The funding also provided a sound platform from which to grow.
We’re there to support future needs as well. The company is currently considering buying a small company providing a complementary service and we have offered finance to help make the purchase.
The team were able to buy the company without providing security or personal guarantees, and are fully in control of the business.
Sales have grown from £3.5m to £5.5m and further growth is expected.
We’ve offered finance to help Industrial Pumps buy another business with related products, which will help grow the company further.