The acquisition of MMC ESL strengthens Ipsum’s specialist electrical engineering capabilities and broadens its relationships with major DNOs.
Ipsum Utilities, backed by Aliter Capital LLP (“Aliter”), announced today the successful completion of its investment in MMC Engineering Services Limited (“MMC ESL”), a Cumbria-based specialist electrical engineering services provider.
Mark Meth-Cohn, Founder and Managing Director of MMC ESL said: “We have been working closely with Richard Thomas and the Aliter Team for a number of months. It was important for me to find the right buyer for MMC ESL, and I am confident as part of Ipsum we will continue to flourish.”
Richard Thomas, CEO of Ipsum said: “The addition of MMC ESL’s electrical engineering expertise and long-term relationship with ENW significantly enhances our power offering, by both increasing our expertise and enhancing our presence in the North West. I look forward to continuing to work with Mark and welcome the MMC ESL team to Ipsum.”
Greig Brown, Chairman of Ipsum and Partner of Aliter said: “The strategic plan for Ipsum is on track despite the challenging circumstances all industries have faced over the last 12 months. The addition of MMC ESL is in line with our strategy and broadens our relationships with DNOs across the UK.”
About MMC ESL (www.mmcesl.co.uk)
Founded by Mark Meth Cohn in 1993, MMC ESL offers electrical engineering and related services – with specialist expertise in electricity distribution and working in high voltage environments. MMC ESL is based in Milnthorpe, Cumbria and employs 21 staff.
About Ipsum Utilities (www.ipsumutilities.com)
Ipsum provides specialist wastewater, power and support services to utility companies and private sector businesses across the UK. Ipsum helps its customers maintain, improve and develop their assets, and together with its smart systems, delivers on time, on budget and safely.
Ipsum was formed in 2017 and has since brought five successful owner-managed businesses together. The combination of an executive team experienced in speciality buy and build, acquired and retained entrepreneurial flair and Aliter Capital’s outstanding track record in support services and private equity experience has resulted in significant growth in a resilient sector with strong fundamentals.
About Aliter (www.alitercap.com)
Aliter Capital LLP is a specialist UK support services investor which announced the close of its specialist support services fund (Aliter Capital I, LP) in February 2017.
Aliter was founded by a group of seasoned support services entrepreneurs and investors – Billy Allan, Greig Brown, Andy Galloway and Andrew Busby – and focuses on small and mid-sized businesses in the UK support services sector, a market valued at over £300 billion. Its approach differs from traditional private equity models by making only a limited number of selective portfolio investments to deliver dedicated hands-on support. Aliter has now closed a total of 18 transactions since the beginning of 2017.