Pump Supplies Ltd (“Pump Supplies“) supported by its parent company – Vestum AB (publ) (“Vestum”) has today acquired all shares in PDAS Holdings Ltd (“PDAS“). During the fiscal year 2023/2024, PDAS generated sales of just over £14.5M and an EBITA margin in line with the Vestum Group. The purchase price was financed through own cash and existing credit facilities.
PDAS was founded in 2014 and is a UK market leader in proactive maintenance and intelligent monitoring of wastewater pumping stations. The company specialises in packaged pumping stations, storm attenuation tanks, first-time sewerage schemes, station upgrades and refurbishments. A significant part of the offer consists of intelligent monitoring systems through remote telemetry and cloud-based technology for service and maintenance of pumping stations that allow self-employed experts to monitor customers’ products in real-time with the aim of streamlining maintenance work. PDAS has 63 employees and is headquartered in Surrey, England.
Founded in 1982, Pump Supplies is one of the largest suppliers in the UK of electric submersible water pumps. The offer includes drainage, sewage and slurry pumps as well as an extensive range of accessories and pipe systems. Pump Supplies operates through five depots in England, Wales and Ireland. Pump Supplies has 90 employees and is headquartered in Gloucester.
Vestum’s CEO Simon Göthberg, said:
“I’m proud to announce the acquisition of PDAS, which constitutes an excellent add-on acquisition to Pump Supplies. With its strength in intelligent monitoring systems, PDAS can leverage the broad customer network built by Pump Supplies over the past 40 years to further accelerate growth in recurring revenue. There are concrete synergies on both the revenue and cost side, and the acquisition strengthens Vestum’s position within water infrastructure in the UK.
“The acquisition of PDAS is Vestum’s first acquisition in two years and demonstrates our strategy to grow the Water segment, both through high organic growth and acquisitions. Our ambition is to grow the Water segment to become Vestum’s largest segment.”
Luke Beattie, Managing Director of Pump Supplies, adds:
“PDAS is a leading pumping station specialist which complements the Pump Supplies business and I’m delighted to welcome the entire team to the family. This strategic move is aimed at promoting stability, fostering growth, and strengthening our position in the marketplace. The acquisition won’t disrupt our operations or alter the core values that customers have come to associate with us. Instead, it positions us for even greater success by leveraging synergies and expanding our reach. We are confident that this new chapter will bring about even more opportunities for collaboration and mutual growth.”
Grant Thornton provided financial advice and Thrings has acted as legal advisor to Pump Supplies in connection with the acquisition.