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Ipsum Group have announced a new investment of £6m to fund "significant growth"
The infrastructure, construction and maintenance specialist, is set to develop the team, invest in a specialist fleet, boost its marketing drive and recruit senior personnel across the business to help deliver strategic growth and innovation within the sector.
This funding injection aims to contribute to an increase in annual revenues by 20 per cent, bolstering its industry presence across the UK.
Ipsum Group has invested over £2m in the last 18 months replacing and increasing its specialist fleet. The firm's assets now include over 300 new vehicles, 100 of which are specialist CCTV Units, Jet Vacs, Gully Trucks, Grab Wagons, Unimogs, MEWPs and Recycling Units which are utilised in the wastewater, drainage and telecoms sectors.
Since April, 2019, the Preston-based firm has acquired two new partner companies, electricity network service provider, Stormport and national drainage service provider, EEG. These impressive acquisitions follow on from the firm's two previously successful investments in asset management firm, CALM, and a specialist high voltage engineering business, SPEC.
Greg Fernie, CEO of Ipsum Group, said: "Our strategic direction is focused on growing organically and increasing our geographical presence in the wastewater, drainage, electricity and telecoms markets. As a result, we've dedicated a significant amount of investment to ensure we reach our ambitious growth targets.
"Here at Ipsum Group, our proactive and innovative approach ensures our clients' businesses can flourish. Our advice, support and strategic direction nurtures companies into national operators, utilising smart solutions to drive value for the businesses and their customers."
The ambitious firm, with over 23 sites in the UK, has plans to expand further and is seeking other businesses to acquire which fit its portfolio.
Ipsum Group now boasts over 500 staff and turnover in excess of £60 million, securing its position within the market. It is a utilities and infrastructure, construction and maintenance specialist that delivers efficiencies and drives value through innovation.
(MH/JG)
