Inflexion sells Pims Group to Xylem Inc.

Inflexion Private Equity is pleased to announce the sale of Pims Group, the wastewater services company, to Xylem Inc, for a headline price of $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.

Inflexion was actively involved in pursuing and negotiating a large number of value-enhancing corporate transactions. Pims Group went on to complete four, of which Comet Tankers (the drainage, CCTV and tanker operator) and Hydroserve (the sewage treatment and oil interceptor service provider), were the most significant. 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.

The benefit of the integrated services model provided by the acquisition of Comet Tankers and Hydroserve enabled the company to focus on larger clients, to attract national accounts and to engage with the UK water authorities. This range of operations, these large customers and this national market position were of great value to Xylem Inc., a leading global water technology company.

The sale process was led by Charles Thompson.