SOVEREIGN Capital has acquired drain and sewer company Euro Environmental Group (EEG) after paying £20m for the Scottish company.
The private equity firm, which specialises in buy and build transactions, announces its management buy-out of EEG today and will acquire the company’s operations across the Scotland and England.
The acquisition is significant for Sovereign Capital as the UK’s sewage system infrastructure, predominantly Victorian, will need replacing and maintaining within the next five years.
“EEG has achieved an enviable reputation for service amongst its customers by continuously investing in its specialist fleet and equipment and building and developing excellent customer relationships over many years,” commented Sovereign Capital managing partner Andrew Hayden.
EEG was founded in 1997 and specialises in repairing, inspecting and cleaning drainage and sewage systems in the UK.
Sovereign Capital invests in lower mid-market companies in a variety of sectors.