Catalyst lead adviser on itmsoil MBO
BIRMINGHAM’S Catalyst Corporate Finance has advised on the management buy-out of itmsoil’s geotechnics business.
East Sussex-based itmsoil is the UK market leader in the design, manufacture and supply of monitoring services instruments for the construction and insurance industries.
Its state-of-the-art instruments are used to monitor the stability of infrastructure, tunnels, mines, dams and roads. They are also used to monitor coastal erosion, detect impending landslides and monitor earthworks and excavations.
Catalyst partner Steve Currie led the deal and joins the board post-completion. He said: “itm is a great British success story. Under the leadership of chief executive officer Mark Kirkbride, who is leading the MBO, the company has doubled in size in the last two years with turnover heading toward £30m for 2012 and beyond.”
Kirkbride has restructured the entire business, built a new management team, defined a clear strategic plan and the company is actively pursuing opportunities to acquire additional skills and businesses.
He said: “The future holds many opportunities and together the management team is looking forward to entering a new era. We are in an excellent position to further expand and ideally positioned to benefit from the forecast increase in infrastructure expenditure around the world.”
The itmsoil group was founded in 1992 by Jon Scott and Chris Rasmussen, also as an MBO from previous owners.
Catalyst was lead adviser on the deal, using a specialist sector team taken from its Birmingham and London offices.
No sum has been disclosed for the transaction.
