8th October 2021
When a leading commercial provider of electric submersible pumps had the opportunity to sell to further develop the business, the corporate team at Thrings were on hand to make sure the sale flowed nicely!
Pump Supplies, which specialises in all aspects of submersible pumps – from hire and service to sales and pump station installation – is now able to continue its growth following its acquisition by the Lakers Group, a Nordic private equity group active in aftermarket services in the water and wastewater industry.
Nearly 40 years old, Pump Supplies had the largest fleet of electric submersible pumps and pipework in the UK and was the country’s leading distributor of Flygt pumps, widely considered to be the originator of the electrical submersible pump.
Following acquisition, it’s now part of the Oslo-headquartered Lakers Group, which offers maintenance, service, development and technical consultancy for pumps, pumping stations, electrical motors and related components. Bought by private equity firm Summa Equity in 2018, it currently employs 300 staff across Norway, Sweden, Finland and Denmark.
Our corporate team led by John Davies and Simon Hore, ran the legal due diligence exercise, reviewed and negotiated the share purchase agreement, and carried out the disclosure exercise. Associate solicitor Rebecca Whiting handled the property aspects of the deal.
Pump Supplies MD Andrew John said: “Thrings were able to guide me through the legal process, explain things clearly and worked hard to ensure that we achieved the right deal. John and Simon were diligent, professional and easy to work with – they come highly recommended.”
For further inquiries contact Simon Hore