Based in Suffolk, IWJS turns over more than £30m a year from cleaning and patching sewers and made a pre-tax profit of £650,000 last year. Under M Group ownership it will retain its brand identity and continue to operate as a standalone business within the group, alongside Morrison Utility Services and PMP Utilities, among others.
It is M Group Services’ sixth acquisition in just over two years. Terms of the deal were not disclosed.
M Group Services chief executive Jim Arnold said: “This is a significant acquisition that further enhances the scope of complementary, specialist essential infrastructure services that our group delivers to utilities and other infrastructure clients in the UK and Ireland.
“Over the past 40 years, IWJS has demonstrated its ability to forge trusted, long-term client relationships and a capacity to cross-sell its extensive range of wastewater network services. Now, as a part of M Group Services, IWJS will benefit from the growth and diversification opportunities associated with membership of a broader infrastructure services group.”
IWJS managing director Christopher Stewart, one of the former owners, said: “IWJS has evolved to become one of the UK’s leading wastewater network and associated infrastructure solution providers. Following this acquisition, IWJS is ideally positioned to work with our fellow M Group Services businesses, creating value by complementing their existing service offerings for the benefit of our clients, while taking advantage of the financial scale of the group and the growth opportunities this will bring.”