Penningtons Manches Cooper advises SOCOTEC UK Limited on strategic acquisitions of IETG and 40SEVEN

Posted: 13/11/2023

The corporate team at Penningtons Manches Cooper has advised SOCOTEC UK, a market leader in testing, inspection, and certification (TIC) services for the construction, infrastructure and environmental sectors, on the acquisitions of IETG and 40SEVEN. The acquisitions see SOCOTEC UK further enhance its position as a leader in remote monitoring and advanced geospatial solutions in infrastructure, utilities, energy, aviation and construction.

IETG are experts in planning, monitoring, and measuring and are uniquely positioned to support water companies and wider stakeholders across the UK in achieving regulatory compliance. Their services, including flow surveys, water quality monitoring and sampling, pollution alarms, level monitoring, temperature and hydrogen sulphide monitoring, are instrumental in ensuring adherence to environmental regulations.

40SEVEN provide specialist surveying services, encompassing topographical and measured building surveys, as well as underground utility and gas hazard surveying, aligning with SOCOTEC's existing surveying and monitoring capabilities. 

The acquisitions, with a combined workforce of 160 professionals and a revenue of £13 million, further bolsters SOCOTEC's extensive portfolio, providing clients with comprehensive in-house solutions throughout the asset lifecycle, as well as extending its geographic reach. The total turnover of SOCOTEC UK now stands at £200 million.

The Penningtons Manches Cooper team advising SOCOTEC UK was led by corporate partner Richard Wrigley, with support from associate Jennifer Ford. The wider team included support from corporate tax partner Oliver Gutman, commercial senior associate Nora Pook, pensions partner Alison Hills, employment associate Tom Pimenta, real estate associate Ben Madden and trainee solicitor Kajol Harrar.

Jason Goodwin, chief financial officer of SOCOTEC UK, said: “The acquisitions of IETG and 40SEVEN reinforce and diversify our existing environmental division. With the addition of water and wastewater remote monitoring capabilities, we are now the leading provider in the UK, supporting our clients in complying with the rigorous legislation established by the Environmental Act. I’d like to thank Richard and the team at Penningtons Manches Cooper for their expertise and advice on these strategic acquisitions which support our ambition to become the leading integrated player in the UK, helping businesses mitigate environmental impacts and build a more resilient, sustainable future.”

Richard Wrigley, corporate partner at Penningtons Manches Cooper, added: “We are delighted to have advised SOCOTEC on these strategic acquisitions. We look forward to continuing to support SOCOTEC UK in implementing its strategic growth plans in the future.”

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