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UK private equity firm Inflexion exits wastewater company Pims for $57m

12 Mar 2013

UK private equity firm Inflexion has sold wastewater services company Pims Group to water technology company buyer Xylem for $57m.

Inflexion backed the existing management team, who remain with the business today. Together they have built Pims Group via acquisitions and expansion of the product and service range to create a national provider in the UK, the firm said.

Inflexion was actively involved in pursuing and negotiating a large number of value-enhancing corporate transactions. Pims Group went on to complete four, including Comet Tankers and Hydroserve. Two additional bolt-ons of regional service-led businesses, Forewood and ABS, added to national coverage. This led to an expansion of the end markets served, a larger customer base and increased profits, according to Inflexion.

The sale process was led by Charles Thompson, a partner who has been with the firm since 2001.

In August 2012 Inflexion raised £100m for its 2012 Co-Investment Fund, exceeding its £75m target and hitting its hard cap within six weeks of launching. The fund will co-invest alongside Inflexion’s £375m 2010 Buyout Fund, which took just three months to raise.

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