Survey Solutions moves into rail sector with first acquisition since MBO
Mon, 07 Oct 2024 | BUSINESS SALE
Leading UK engineering surveyor Survey Solutions has completed its first acquisition since undergoing a private equity-backed management buyout (MBO) in late 2023, with a deal for JWG Survey & Engineering (JWG).
Wirral-headquartered JWG is an engineering surveying and monitoring services company that specialises in supporting the safety, reliability and efficiency of railway infrastructure. The company’s services include topographic and control surveys, automated and manual monitoring, track alignment, clearance surveys and design verification.
Founded by Jake Gaskell in 2015, the company has seen “considerable growth” since then. Gaskell, who will remain with the firm as Managing Director – Rail Service Line following the acquisition, said that JWG had “already established an excellent reputation”.
He added that JWG would “benefit from the resources of being part of a larger group” and Survey Solutions would “benefit from our expertise in the rail market”, while clients of both firms would benefit from a broader service offering.
The acquisition provides Survey Solutions with its first foothold in the rail industry and represents the first deal since its MBO, which was backed by private equity firm WestBridge. Following the acquisition, Survey Solutions now has 14 regional offices and around 200 full-time employees, the majority of whom are specialist surveyors.
The company’s MBO was led by CEO David Lowe, who said that Survey Solutions is intending to grow through both organic channels and a buy-and-build strategy. The company’s M&A strategy will focus on surveying and monitoring businesses across the utilities, transportation, government and energy infrastructure end-sectors and the JWG deal is expected to be the first of several transactions over the coming months.
Commenting on the deal, David Lowe said: "This acquisition will be of great benefit to both JWG and Survey Solutions customers, as we take advantage of rolling out JWG's specialist rail services nationally on the Survey Solutions platform."
WestBridge Investment Director Rebecca Sinclair added: "We are pleased that JWG represents the first acquisition in our partnership with Survey Solutions. This has followed a period of significant investment in the Survey Solutions platform and growth of the acquisitions pipeline, such that the acquisition plan can now accelerate."
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