6 September 2022
Press ReleasesSOS Leak Detection, a provider of non-destructive escape of water detection and remedial services, has funded its primary buyout by securing an equity investment from YFM Equity Partners (YFM), advised by Stuart Williams and Jack Griggs of James Cowper Kreston Corporate Finance.
Stuart Williams commented, “It was great to work with the YFM team again and build further on our credentials in the built environment. SOS is an exciting business and, with the support of YFM and a strong management team, is clearly well placed to become the leading national player in the leak detection market.”
Established in 2011, SOS Leak Detection is headquartered in Bedfordshire, and has grown to a team of 35 including 25 specialist engineers. With significant experience in technology-led non destructive escape of water detection and associated remedial services, it mainly serves customers in the insurance sector including insurers, loss adjusters and property managers, working across the UK.
The buyout was led by Jamie Nash, managing director, who has worked in the industry for over 30 years. Jamie will be supported by incoming chair Stuart Black, and founders Nik Day and Brad Wilby, who will remain significant investors in the business and will continue to provide strategic and business development support.
Jamie Nash commented: “After more than 30 years working in the space, I joined SOS Leak Detection earlier this year as I could see that, with the right backing, SOS has huge potential for growth. I am excited to be leading the business and with YFM on board, we are looking forward to being able to expand our offering of specialist services to our growing customer base.”
Brad Wilby, founder, added: “We are really proud of SOS’s journey so far, but this is about taking the company to the next level and YFM has vast experience of scaling similar businesses. YFM has also spent considerable time really getting to know us and our business, so we are pleased to welcome them on-board not only as an investor, but also as a partner who really believes in us and the future goals of SOS.”
David Wrench, YFM investment partner, comments: “SOS Leak Detection has carved out a great position in the repair and restoration space, combining technology, exceptional training and industry-leading customer service levels to resolve escape of water issues efficiently, reducing waste and costs to insurers and property managers. It was also great to work with Stuart Williams and the wider JCK team again - they provided tireless, high quality support and valuable advice throughout the transaction and are genuinely a pleasure to work with. We very much look forward to working with them again.”
The YFM team comprised David Wrench, Ben Pitt and Jamie Roberts. Advisers to the management team and YFM included James Cowper Kreston (Stuart Williams and Jack Griggs, buyside advice); Shoosmiths (Sanjeev Sharma and Aleks Bosch, legal work); PMSI (Gareth Elliott and Will Durbin, commercial due diligence); Crowe (Bob Alsop, financial due diligence); GT (Usman Malik and Richard Joyce, exit and IT due diligence); and Catalysis (Mike Hicks, organisational and people due diligence). The vendors were supported by Transworld Business Advisors UK: Mergers and Acquisitions (sell-side adviser); with legal advice provided by Ashtons.
