Surveying firm bought by rival
A YORKSHIRE specialist surveying services company has acquired a fellow surveying firm for an undisclosed sum.
Cartographical Surveys, based in Worcester, has been bought by 40Seven, of Leeds.
40Seven has bought the business from its owner managers Bob Whitfield and John Waterman.
The acquisition is 40Seven’s first since becoming a wholly owned subsidiary of Leeds-based IETG, a water related support services business.
Cartographical Surveys specialises in topographical and aerial surveying services, which will complement 40Seven’s skills in topographical, building measurement, underground utility surveying and gas hazard surveying.
Cartographical also has a well-established training operation, providing the main industry recognised course, which is approved by The Survey Association (TSA). The business employs 30 people at offices in Worcester and Long Eaton and has a turnover of around £2m. One of its largest customers is The Environment Agency.
40Seven’s acquisition of Cartographical Surveys was negotiated by Martin Hornshaw, IETG’s finance director.
Mr Hornshaw said: “The two businesses are a good fit. Cartographical Surveys broadens 40Seven’s service portfolio and its geographical footprint. It also provides us with the opportunity to branch out into related training services, which we believe has tremendous potential.”
Andrew Francey and Jessica Bickers of Leeds-based law firm Lupton Fawcett, acted on behalf of IETG and 40Seven.
Mr Whitfield and Mr Waterman will be retained as part of 40Seven’s management team.
The pair said in a statement: “We are delighted that 40Seven has decided to acquire Cartographical Surveys as we believe the companies complement each other well, and we look forward to working with the directors to continually grow the business.”
40Seven employs more than 100 staff, based in Leeds, London and Birmingham. Its markets are linked to utilities, the public sector, consultants and the construction industry.
IETG underwent a management buy-in/buyout from Babcock International Group in 2006. Since then the combined group has increased turnover by 70% to £12m.
The acquisition of Cartographical Surveys by 40Seven takes the combined business turnover of the IETG group of companies to £14m and the headcount to more than 230 employees.
Mr Francey said: “IETG is a very successful Yorkshire business. We have enjoyed working with the company over the past few years and watching it go from strength to strength. We look forward to working with IETG on its future acquisitions.”
IETG specialises in providing asset monitoring, inspection and maintenance services primarily to the water utility sector. Its services include sewer flow monitoring, CCTV and manual inspection of sewers and pipelines, drainage surveys and leakage detection and repairs.
