Chorley headquartered leading specialist utilities infrastructure provider Ipsum, has acquired high-voltage electrical services company RJ Power Networks.
Grant Thornton UK's Corporate Finance team advised RJ Power Networks on the deal.
The transaction marks another significant step in Ipsum's strategic expansion programme, extending its operational footprint from its traditional strongholds in the North and Midlands into the South East and central London market.
Headquartered in Chorley, Lancashire and backed by European private equity firm IK Partners Ipsum has established itself as a fast-growing player in the utilities infrastructure sector, employing over 1,000 staff across the UK.
The company works in partnership with customers across regulated and non-regulated environments to optimise asset performance, supporting the security and resilience of critical networks.
RJ Power, which employs approximately 100 people in Kent, Bristol, York and the Midlands, brings specialist high-voltage electrical services capabilities that complement Ipsum's existing strengths in connections, asset installation and replacement, and maintenance of high-voltage electrical infrastructure.
The company services the electrical engineering requirements of the majority of London’s real estate skyline in addition to the requirements of major sporting venues, public institutions, and critical infrastructure projects.
Under the terms of the acquisition, RJ Power's senior management team will remain in place, ensuring continuity of service for existing clients whilst benefiting from Ipsum's broader platform and resources to accelerate growth opportunities.
Grant Thornton's team was led by Corporate Finance partner Jamie Roberts, alongside Thomas Bew, Andy Charter, and Jordan Fenney. Tax advisory services were provided to the vendors by Richard Marsh and Hannah Jones.
Andrew Cowan, chief executive officer at Ipsum, said: “It is a pivotal and exciting time for Ipsum as we continue to grow from strength to strength. The acquisition of RJ Power represents a major milestone in our journey, enabling us to expand our presence into London and the South East.
“As businesses across the UK intensify their focus on Net Zero ambitions, Ipsum remains dedicated to providing the highest standards of safety and exceptional customer service.
“We are fully committed to mobilising the right resources and expertise to support our customers in achieving their goals for sustainable resilient assets, while ensuring health, safety, quality and customer satisfaction.”
Jamie Roberts, corporate partner at Grant Thornton UK, said: "This transaction provides an excellent outcome for our client and makes for a powerful strategic combination with Ipsum. I look forward to seeing the business continue to thrive as it moves forward under Ipsum’s ownership.
“This deal is another strong example of how Grant Thornton brings together deep sector expertise in power and utilities with multi-disciplinary specialist teams to deliver outstanding results for our clients.”
Andrew Pierce, managing director of RJ Power, said: “We’re excited to partner with Ipsum, ushering in a dynamic new era for our business, employees, clients, and partners.
“This acquisition is a testament to our team’s commitment and effort, and it paves the way for significant growth, fresh innovation, and added value for those we serve.”
He added: “United by a common vision, we’re eager to reach new heights together and create even more success in the future.”
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