LDC backs £44m water and environmental sustainability specialist
The East of England and East Midlands team at mid-market private equity firm LDC has announced a “significant” investment in leading water and environmental sustainability specialist Stonbury.
Stonbury is based in Bedfordshire and employs around 300 people across the UK. It recorded revenues of £44.7m for the year ending June 2022.
The company has a 40-year heritage of working with UK water companies and environment agencies to deliver low-carbon solutions to maintain, repair and refurbish their critical assets, from drinking water provision to wastewater treatment, helping to protect supplies and extend asset lives.
Stonbury also delivers nature-based solutions to help customers operate more sustainably and mitigate the impacts of climate change.
LDC’s investment will support the business’ existing management team, led by CEO Trevor Hoyle, former CEO of environmental consultancy group RPS’s EMEA divisions. The team will increase its support for customers by expanding its range of water, wastewater and nature-based, low-carbon environmental services through organic growth and acquisitions.
LDC will also help the business to further expand into the clean energy solutions market.
The transaction was led by David Bains, partner and head of East Midlands and East of England at LDC, and investment managers Nicole Wong and Mikayil Salahov. Bains and Wong will join Stonbury’s board, with Ian Burnett also joining as non-executive chairman.
Trevor Hoyle, CEO of Stonbury, said: “Sustainability sits at the heart of the challenge water companies and environmental organisations are facing. Creating a more resilient and efficient water network and a healthier, safer environment will be vital to reduce the impact of significant weather events. Stonbury is well-equipped to support our clients with low-carbon and nature-based solutions.
“We knew from the moment we met David and the LDC team that they were the right investment partner for us. Their relationship-first approach and extensive network of connections were important factors in our decision. With LDC’s support, we are actively exploring organic and acquisitive opportunities to expand our range of services.”
David Bains added: “LDC is committed to helping companies that contribute to a more sustainable future. Stonbury’s clear purpose focuses on sustainability and its experience and expertise over many years make it well-placed to support the water and environment industries in mitigating the impacts of climate change.
“We’re looking forward to supporting Trevor and the rest of the management team to continue building Stonbury into one of the UK’s leading critical infrastructure services businesses.”
Stonbury was advised by MacIntyre Hudson and Howes Percival, while LDC was advised by FRP, Browne Jacobson, KPMG and Armstrong.
