Underground Vision (UK) Limited Acquired by TorenValk Group BV
North West-based drain and sewer specialist, Underground Vision (UK) Limited (UGV & the Company) has been acquired by Torenvalk Group BV (Torenvalk), a Dutch-based trade acquirer for an undisclosed value consisting of cash and shares issued on completion.
Established in 2007, UGV has grown to become one of the largest independent drain and sewer operations in the UK. The Company has developed a strong reputation, providing domestic and commercial clients, including several blue-chips, with an exceptionally high standard of service utilising cutting-edge technologies.
The opportunity to acquire UGV generated a wealth of interest from both UK and international trade and private equity acquirers. From the interest generated, the Shareholders identified Torenvalk as representing the strongest fit for the Company. The Dutch-based company has operated within the drainage industry, managed by the Van Der Valk family, for over 50 years.
With the French and German markets possessing fairly significant barriers to entry, the Shareholders of Torenvalk, which has existing operations in the Belgian and UK drain and sewer industries, identified the UK as a market within which they wanted to strengthen Torenvalk’s presence.
Following the acquisition, UGV’s Shareholders will continue to manage the Company’s operations supplemented by additional resources, provided by Torenvalk, to further develop UGV’s UK market share. The extra resources will help the Company fulfill contracts it previously did not have the capacity to accept.
Commenting on the deal, James Thornton, Benchmark International Managing Director stated, “This deal is going to greatly benefit both parties with Underground Vision set to gain greater competitive advantage due to increased resources and Torenvalk further strengthening their UK market presence. Our clients have been a pleasure to work with throughout and I’m extremely pleased that they have been able to achieve a fantastic deal.”
Also discussing the deal, UGV Director, Brad Commins stated, “Both myself and Anthony are really pleased that we can now continue managing Underground Vision backed with sufficient capital to take the company on to the next level. Torenvalk represents a superb fit and we are now really looking forward to working with them to build upon our success to date. I would also like to thank everyone involved at Benchmark International who really helped us throughout this process. They turned out to be a vital factor in such a successful deal.”
Benchmark International would like to thank all parties involved and we wish them all the very best of luck for the future.