Second drainage acquisition for Lanes
Lanes Group has acquired AQS Environmental Solutions and its parent company, the Arlo Group, one of Ireland’s largest providers of drainage, industrial and waste management services.
The deal, for an undisclosed sum, is the second major acquisition by Lanes Group in recent weeks. On 5th November it bought UKDN Waterflow out of administration, taking on 254 employees under TUPE regulations.
AQS Environmental Solutions provides drainage services to local authorities, private industry and residential customers across Ireland. Sister company Acorn Recycling turns sludge into compost.
The acquisitions create a group of companies with 1,703 staff, 27 operating centres and five utility hubs.
Lanes Group business development director Richard Leigh said: "Both acquisitions deliver new business opportunities that are an excellent strategic fit, both with our current services, and our plans for growth.
"AQS Environmental Solutions has sound finances, a strong brand, and a good reputation with customers in Ireland. Acquiring the company helps us achieve a strategic ambition to extend our geographical reach, where it is financially and operationally prudent to do so.”
He added that the UKDN Waterflow acquisition expanded Lane’s depot network “and helps us to deepen our presence and capabilities in key sectors, notably highways and rail”.
He said: "Unfortunately, UKDN Waterflow had been experiencing a decline in its customer base in recent years, which contributed to its financial difficulties. With our intervention, its position is secure. We are confident, as UKDN Waterflow (LG) Ltd, the new business can start to win back customers in 2016, and return to growth."
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This article was published on 12 Jan 2016 (last updated on 12 Jan 2016).