Independence for IETG Group

Independence for IETG Group

Leeds-based water and wastewater specialist IETG Group has undergone a management buy-out for its US parent company IDEX Corporation.

IETG and its sister company 40Seven will become a standalone business under new parent company IETG Holdings, led by managing director Ian Edwards and finance director Richard Bond.

IETG provides clean water, wastewater, draining and CCTV services, while 40Seven provides specialist surveying services including utility, land and topographical surveys too users in the construction and utility sector.

The group employs 150 staff across the UK.

Ian Edwards said: “Richard and I are delighted to have had the opportunity to complete this management-led buy-out.  IETG and 40Seven represent great brands in their respective markets and, with Bentley O-S’ support, we very much look forward to continuing to build on the recent historical success of the business.”

The buy-out was supported by funding from Bentley O-S Limited.

Tony Norwood, who led the transaction on behalf of Dow Schofield Watts, said: “While IETG has had fantastic backing historically from IDEX, it’s great to see the Leeds-based business re-establish itself as an independent company again.

“Ian and Richard’s leadership combined with the support of the Bentley O-S provides the group with the ideal platform for future growth.”

 

 

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