The financial details of the acquisition have not been disclosed, but an In-Situ statement says Waterra’s managing director Peter Dumble will remain head of the subsidiary and help oversee the expansion of In-Situ into Europe.
The statement continues, ‘The strategic acquisition significantly strengthens In-Situ’s presence in the UK and Irish markets, particularly in the groundwater sector and provides a platform for growth into other established European markets that require monitoring equipment.’
Founded by hydro-geologists Dumble and David Charlesworth in 1991 in Solihull, the business supplies groundwater monitoring equipment and support training to companies. Colorado-based In-Situ designs, manufactures, distributes, and rents environmental equipment for monitoring the quantity and quality of groundwater and surface water.
Dumble comments, ‘Having spent nearly 20 years growing a thriving business, the other shareholders and I decided to sell to a larger company that could continue our success and take the business to the next level.’
Says Hugh Ashburner, deal leader at BCMS Corporate, adds, ‘We are pleased to have identified a strategic acquirer for Waterra and with it enable the company’s shareholders to realise the value of the business they have invested in for almost two decades.’