Drain Surgeons Changes Ownership
The Drain Surgeons Group has divested its business assets to two buyers for undisclosed sums.
A newly formed division of HydroTech Limited has purchased the giant share of the business including the drain laying and unblocking, CCTV inspections, water inspections and vacuum loading.
The remaining arm of the company, Charlies Takeaways, a liquid waste and dairy effluent management business based in Rakaia, has been bought by Robson Environmental Services, Christchurch.
Alan Hopkins, Managing Director of HydroTech, says that Drain Surgeons will add many attributes to its business; particularly the residential and water investigation divisions. The new division will trade under the Drain Surgeons NZ brand.
Three Sixty Capital Partners managed the sale for Drain Surgeons Group through an Expressions of Interest process. There was considerable interest in the business from within New Zealand and internationally.
Peter Jeffs led the Three Sixty Capital Partners team and says, “Market activity shows there is substantial interest in the infrastructure sector and an unfulfilled appetite for acquisitions. Of particular note was the interest shown by offshore companies looking to enter the New Zealand market or expand their presence in New Zealand. Drain Surgeons was under immense pressure from their financiers and creditors when Three Sixty Capital Partners undertook a mandate to seek expressions of interest. Through a thoroughly structured and managed process the project was completed beyond expectation and within a tight timeframe,” Mr Jeffs said.
About Hydrotech (www.hydrotech.co.nz)
HydroTech Limited is a private New Zealand owned and operated civil works business. Its specialised services include vacuum loading, hydro excavation, drain maintenance, laser profiling, sonar surveying, pipe lining and liquid waste management. HydroTech uses an impressive fleet of internationally recognised equipment and technology, operated by highly trained, experienced and qualified personnel.
HydroTech has an holistic approach to business, from health and safety to customer service. It enjoys preferred supplier status with many of New Zealand’s foremost contracting, infrastructure and construction companies, local governments and state owned enterprises.
About Drain Surgeons Group (www.drainsurgeons.co.nz)
Drain Surgeons, one of New Zealand’s specialist drainage companies, was established in 1997and now has operations in Auckland and Christchurch, as well as international contracts.
The company carries out all aspects of drainage work and a pioneer of the JD7 specialised pipeline and assessment technologies in New Zealand and Australia.
About Robson Environmental Services (www.robsonenvironmental.co.nz)
Robson Environmental has provided industrial and domestic liquid waste removal in the Canterbury and Christchurch region for more than thirty five years.
Robson, an environmentally considerate business, offers complete services and treatments that meet stringent compliance standards. Charlies Takeaways will complement Robson’s business.
About Three Sixty Capital Partners (www.360capital.co.nz)
Three Sixty Capital Partners is a boutique investment bank focused primarily on medium to large enterprises within New Zealand and internationally.
Further information contact:
Peter Jeffs
Partner
E peter@360capital.co.nz
M +64 21 486746
DDI +64 9 309 4667