Family-run Draintech has been providing specialist utility wastewater and drainage solutions across the Midlands for more than 20 years.
Following its acquisition, for an undisclosed sum, the company will now operate as Ipsum Asset Management Services (IAS).
Hannah Williams, operations manager at IAS, said: “We are delighted to be joining Ipsum Group. Becoming part of Ipsum gives us the opportunity to build on the strong foundations we have developed, while accessing a broader range of capabilities and expertise for our customers.”
The acquisition marks Ipsum’s entry into the repair and maintenance sector, broadening its expertise in drainage, cured-in-place pipe (CIPP) lining for sewer rehabilitation, high-pressure jetting and CCTV drain surveys and opening the group to new clients.
Alongside, the newly-named IAS is set to benefit from Ipsum’s wider engineering capabilities operation across the group’s core divisions: power, water, and control and automation.
Chief executive at Ipsum, Andrew Cowan said the acquisition was a “strong” addition to Ipsum’s portfolio, complementing the groups’ existing expertise.
He added: “As investment in maintaining and improving critical water and drainage assets continues to grow, there is increasing demand for responsive, preventative and less disruptive solutions.
“This expertise in drainage maintenance and sewer rehabilitation strengthens our ability to support customers with these needs, while helping us continue to expand our capabilities and strengthen our presence across the UK.”
In March, Ipsum bolstered its specialist power engineering capabilities with its third acquisition during the year of UK-based Rosh Engineering.
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