Stuart Turner, a manufacturer of pumps and water-boosting products for residential and commercial uses and a portfolio company of Epiris Fund II, has acquired Aquatronic Group Management (or “AGM”), a leading provider of cold-water boosting installation and maintenance services in the UK. Financial terms are not being disclosed.
Founded in 1906 and headquartered in Henley-on-Thames, Stuart Turner supplies water-boosting products that manage water pressure in residential and commercial applications. These range from domestic shower pumps, where the company’s Monsoon product is the UK market leader, to bespoke systems that combine cold-water boosting, pressurisation units and circulators to manage the supply of hot and cold water in commercial buildings and for industrial purposes. Epiris invested in Stuart Turner in January this year.
Based in Colchester, AGM designs and manufactures pressurisation and water booster units and installs and maintains fresh and waste-water pump systems. The company offers a nationwide service from its centres in Manchester, Colchester and Southampton.
Stuart Turner is led by Chairman Duncan Cooper and Chief Executive Richard Harden.
Charles Elkington, Partner at Epiris, said:
“This is a hugely complementary acquisition for Stuart Turner, not only expanding its product range but also bringing a services capability into the business. This is a key first step in our strategy to transform Stuart Turner into the leading provider of water-boosting solutions in the UK.”
Alex Fortescue, Managing Partner at Epiris, said:
“It’s really exciting to see how quickly we have been able to have an impact on Stuart Turner by bringing to bear our experience of using M&A to reposition businesses. This investment is off to a great start.”
Richard Harden, Chief Executive of Stuart Turner, said:
“AGM is a great fit for our product portfolio, gives us access to the services market, and moreover has a fantastic reputation for service and technical capability. We’re all looking forward to welcoming and working with the AGM team.”
The Epiris team on the deal is Charles Elkington, Nicola Gray and Zoe Lai. Epiris and Stuart Turner are advised by Gateley Legal, Mazars and PMSI.
For more information, visit www.stuart-turner.co.uk | www.agm-plc.co.uk
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