Rubicon Partners (“Rubicon”) and Grovepoint Capital LLP (“Grovepoint”), have acquired Aquamain (UK) Limited (“Aquamain” or “the Company”), the UK’s largest provider of self-lay water utility services.
Based in Somerset, Aquamain is a provider of self-lay water utility services, including mains and plot connections to the UK’s leading housing developers and regional water companies.
Aquamain was established by founders Gary and Suzanne McConnell in 2004 and has built a reputation as an industry leader in innovation and customer service. Gary will remain with the Company as a shareholder and advisor and will continue to hold positions on a number of industry forums.
Mark Perkins will join the Board as Executive Chairman. Mark has worked with Rubicon and Grovepoint on a number of investments and has held senior positions with EnServe Group, Wates and Shepherd Group.
RG Industries was advised by PwC (Financial, Tax and Commercial) and Proskauer Rose (Legal). Debt facilities were provided by Lloyds Strategic Debt Finance. Isca Ventures acted as the lead corporate finance adviser to the shareholders and management team.