Grant Thornton’s M&A team advises RJ Power on sale to Ipsum
Engineering services provider Ipsum has acquired RJ Power, a provider of high voltage electrical services with around 100 people in Kent, Bristol, York and the Midlands. Grant Thornton provided sell-side M&A advisory.
Headquartered in Lancashire, Ipsum is a provider of infrastructure in the utilities sector, in segments including power, water and telecoms. The company delivers engineering, maintenance and repair services for assets, supporting the security and resilience of critical networks.
The addition of RJ Power boosts Ipsum’s capabilities in the power market, in particular in the high-voltage electrical infrastructure segment. RJ Power services the electrical engineering requirements of many major real estate projects, as well as major sporting venues, public institutions, and critical infrastructure projects.
The bolt-on also expands Ipsum’s footprint in and around the English capital, as well as in the North and Bristol. “The acquisition of RJ Power represents a major milestone in our journey, enabling us to expand our presence into London and the South-East,” said Andrew Cowan, CEO at Ipsum.
Meanwhile, for RJ Power, the integration into the larger player (Ipsum has over 1,000 staff) will enable its team to make more of an impact for its clients and offer its team new opportunities. “We’re excited to partner with Ipsum, ushering in a dynamic new era for our business, employees, clients, and partners,” stated Andrew Pierce, Managing Director of RJ Power.
M&A advisor
On the sell side, the transaction was advised by the corporate finance team of Grant Thornton. The team was led by partner Jamie Roberts, alongside Thomas Bew, Andy Charter, and Jordan Fenney. Tax advisory services were provided to RJ Power by Richard Marsh and Hannah Jones.
“This transaction provides an excellent outcome for our client and makes for a powerful strategic combination with Ipsum. I look forward to seeing the business continue to thrive as it moves forward under Ipsum’s ownership,” said Roberts.
In a recent benchmark, Grant Thornton was named as one of the UK’s leading M&A advisory firms.
