South Yorkshire technology business seals deal for leak detection company
South Yorkshire technology firm Ovarro has acquired Chesterfield-based ControlPoint, which provides quality assurance and data management solutions which combat leakages to the utility sector.
The Sheffield-based business which is the new name for Servelec Technologies and water leak detection specialist Primayer following a rebrand last year, says the deal will further develop its position as a “industry leading player in leakage for the utility sectors”.
ControlPoint was established in 2010 and its technology is currently used around the world on gas and water pipelines. Its system involves unique software and real time inspection of pipeline jointing at the point of installation, giving asset owners and contractors the ability to prevent poor joints being installed on the network.
David Frost, CEO at Ovarro said: “[We] are delighted to welcome ControlPoint to the team and are firmly committed to continued investment in ControlPoint’s people, technology and software solutions, so that together we may grow and develop our combined range of complimentary products and services for all our customers in the utility sector around the world.”
Ben Crabtree, managing director of ControlPoint added: “The combination of Ovarro and ControlPoint provides us with the opportunity to continue to support our established end markets and customers in the UK, whilst leveraging the financial and human capital of Ovarro to expand our market position around the world.”
Ovarro is a subsidiary of Laurel Solutions which is backed by San Francisco-based private equity investor, FFL Partners.
Martin Carter, CEO of Laurel Solutions, commented: “Ovarro’s acquisition of ControlPoint continues to demonstrate the investment strategy to further develop as an industry leading player in leakage for the utility sectors.”
Roger Esler from Dow Schofield Watts and Richard May DLA Piper Sheffield advised ControlPoint’s shareholders.
Esler said: “ControlPoint was founded in 2010 to apply its unique technology to address a real-world problem in the utility sector. Ovarro provides a natural strategic home for the business with the complementary technologies and additional international reach to support its ongoing growth and development.”