Bright new future after buyout deal
A Black Country-based waste water business has been sold to its management by its international parent company.
Ovivo UK Municipal, run from offices in West Bromwich, will now trade as Jacopa. It has been in a management buyout led by Alex Lloyd, head of Ovivo in the UK, and finance director Peter Sargent.
Staff from the head office on the Lyng's Millard Industrial Estate and the company's other UK locations attended a ceremony at Birmingham Botanical Gardens were the new company was formally unveiled. It supplies, installs and maintains equipment and treatment processes in the municipal water and waste water industries. The business employs around 70 staff and has a turnover of £13m. The company will continue its focus on the UK and Ireland wastewater sectors, offering a variety of brands, including Copa, Jones+Attwood, Aquator, Tomkinson and MBR Technology.
New managing director Alex Lloyd said: "This is fantastic news both for the future of the company and for our employees in the UK.
"Our company is already a leader in the municipal wastewater treatment market, and we intend to make sure we consolidate and grow this position. Not only that, but our employees, whose hard work has helped build this great local business into a national success story, will enjoy a secure future with great prospects."
The buyout team was supported in the deal by corporate finance experts Clearwater International and backed by asset based lender Shawbrook Business Credit.
