Drainage specialist acquired by national business

A drainage specialist has been acquired by a national business.

RSM UK advised Leeds-headquartered drainage and wastewater utility specialist, Lanes Group, on its acquisition of Cornish-based drainage solutions company Clear-flow Ltd.

RSM say the deal will support the company’s strategic growth plans in the UK utility market.

Lanes Group is a national drainage company providing services for utility, rail, local government, transportation, construction, telecoms and domestic sectors.

The company was established in Leeds in 1992 and is now made up of a network of 25 locations in the UK, with a workforce of more than 4,000 people.

Founded in 1982, Clear-flow provides drainage solutions across the South West.

The acquisition of Clear-flow will support Lanes Group’s ambitions for UK expansion, bringing together two strategically aligned businesses – which are both established players in the utility market. Clear-flow will also bolster Lanes Group’s existing commercial activity in the South West.

RSM’s North West deal team managed the acquisition, led by James Wild and Rikesh Patel, with support from Ben Everson and Austin Halewood. Keith Kennedy at Pearson provided legal advice.

Rikesh Patel, corporate finance director at RSM, said: “It was great to support Lanes Group on this acquisition as it enters the next phase of its growth strategy. Combining the two companies’ knowledge, networks and resource will help facilitate the group’s long-term growth plans and enhance its market presence regionally and nationally.”

Julie Hobbs, director of finance at Lanes Group, said: “The RSM team offered its wealth of acquisition experience and expertise to the process, which resulted in an effective and seamless transition for all involved.”