Jobs saved as compliance specialist snaps up assets of water treatment firm
hsl Compliance (hsl), part of the private equity backed SGI Holdings group of companies (SGI), has acquired the trade and assets of Staffordshire-based Aegis Water Treatment, a move which saves 37 jobs.
Headquartered in Tamworth, Aegis Water Treatment specialises in water treatment systems, including those that help to prevent and control legionella.
Ben Woolrych and Anthony Collier, partners at specialist business advisory firm FRP, were appointed joint administrators of Aegis Water Treatment on March 6 after the business suffered significant cashflow pressures.
Following their appointment and after an accelerated sales process, the administrators completed the sale of the company’s trade and assets to hsl in a deal that sees all the current Aegis staff transferred across.
The deal will significantly strengthen the water treatment services offering for hsl, who are one of the UK’s largest compliance companies, helping their clients with their water hygiene, water treatment and hazardous material risk management.
“Aegis have some excellent people and the quality of their work has been praised by all the customers we have spoken to in the due diligence process, we look forward to welcoming them into the group.” said Gavin Hartley, managing director of hsl.
Ben Woolrych, partner at FRP, added: “Most importantly this deal saves jobs and ensures continuity of trade for customers, but it also provides a strong foundation for the business to continue. As a specialist water treatment business, the services Aegis Water Treatment provides are complementary to those offered by hsl Compliance and we wish the team the best of luck moving forward.”
FRP was advised by Tim Taylor and Barry Davies of Addleshaw Goddard.
SGI is a Europe wide provider of risk and compliance services in the areas of asbestos, water treatment, fire safety and associated health and safety services.
SGI works with owners of industrial and commercial properties and assets to ensure they comply with regulation and best practice risk management. SGI is backed by LDC and generated over £50m in revenues in 2019 and employs more than 500 staff.
