Ipsum Group commits £6m to growth plans
Preston based utilities firm Ipsum Group has laid out its plans to invest £6m in a bid to grow its turnover by 20 per cent.
The company was established in 2017 and specialises in wastewater, drainage, electricity and telecoms. It currently employs more than 500 staff with revenues of more than £60m.
Ipsum Group has already invested more than £2m over the last 18 months replacing and increasing its specialist fleet. Its assets now include more than 300 new vehicles, 100 of which are specialist CCTV units, jet vacs, gully trucks, grab wagons, unimogs, MEWPs and recycling units.
The group has also grown through acquisition, purchasing asset management firm CALM, specialist high voltage engineering business SPEC, electricity network service provider Stormport and national drainage service provider EEG.
The future £6m investment has been earmarked for additional fleet, a marketing drive and the recruitment of senior personnel across the business.
Greg Fernie, CEO of Ipsum Group (pictured), said: “Our strategic direction is focused on growing organically and increasing our geographical presence in the wastewater, drainage, electricity and telecoms markets. As a result, we’ve dedicated a significant amount of investment to ensure we reach our ambitious growth targets."
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