WysePower acquired by RSK Group
Environmental consultancy RSK Group has purchased site services firm WysePower, for an undisclosed fee. The shareholders of WysePower were advised on the deal by FRP Corporate Finance.
RSK Group is a professional services firm specialising in the delivery of sustainable solutions. Its family of more than 175 environmental, engineering and technical services businesses and 10,000 employees work together to provide practical solutions.
RSK has a strong track record of growth through acquisition, bringing technical excellence into the group and facilitating greater collaboration between its business units. Recently this saw it swoop for Copper Consultancy and CS2 to bolster its UK wing. This latest acquisition of WysePower will add further capabilities to RSK’s portfolio, including expertise in temporary power and site services.
WysePower is the UK’s largest established nationwide provider of complete site solutions. The firm employs more than 260 qualified staff, operating from eight regional UK depots, from Glasgow to Bristol, and also boasts a strong presence in Europe.
Hamish Stevenson-Hamilton, majority shareholder at WysePower, commented, “WysePower is a strong business, with an impressive track record and an enviable pipeline of work. It has a bright future as part of the RSK Group. This deal will see WysePower add new capabilities and solutions to RSK’s solution portfolio, which will benefit from the breadth of our service packages, the quality of our designs and installations and the dedication of our employees.”
Stevenson-Hamilton and his fellow majority shareholders acquired WysePower in 2006 – and the deal sees them sell their stake to RSK, while the current management team led by Shawn Callaghan will continue to grow the business as part of the RSK Group.
RSK received legal advice from DWF Law, while financial due diligence was provided by Cortus. WysePower was advised by lawyers Gateley, while RSM provided financial and tax due diligence. CIL Management Consultants provided commercial due diligence. The shareholders of WysePower were also advised on the transaction by FRP Corporate Finance. As part of this process, FRP Corporate Finance partners James Mines and Clive Hatchard, and manager Madhavi Morjaria, selected RSK as the preferred party, led negotiations and managed the process through to completion.
Mines commented, “WysePower operates across resilient sectors including data centres and critical infrastructure, which continue to show strong growth both in the UK and Europe. Strong underlying market dynamics have ensured WysePower has consistently delivered exceptional financial results. The business has a strong pipeline providing substantial visibility of future performance across multiple years. We worked closely with the firm’s shareholders to secure the right deal, which represents a great outcome for the shareholders, the company and customers.”
FRP operates across a network of 26 offices in England and Scotland, and in 2022 opened its first international office in Cyprus. Its advisers work at board level, with investors, lenders, government and regulatory bodies, plus other professionals and individuals requiring professional support.
