idverde acquires green services provider Land Engineering
Scotland’s largest independent green services provider Land Engineering, which fell in to administration two months ago, has been acquired by grounds maintenance services firm idverde.
The acquisition of Land Engineering’s selected customer contracts, employees and associated assets is the third UK addition to idverde since March 2015 following its purchases of The Landscape Group and Quadron Services.
While the group delivers services to clients across the UK, it has been keen to enhance its scale and therefore service coverage in Scotland. idverde had also been looking to build additional capability in UK landscape construction.
Livingstone Partners LLP, which advised idverde on the deal, had approached Land Engineering co-founder Stuart Dillett as part of its initial acquisition programme for idverde in 2014.
Jeremy Furniss, partner at Livingstone and head of the business services sector team, said: “It was a straight-forward task for us to re-open discussions with Stuart who, having seen idverde UK grow from a bright idea to a £100m revenue business, recognised the advantages of joining a larger, green services specialist.”
Mr Furniss added, “From a standing start in Summer 2014, idverde has built – through the three acquisitions – a market-leading, £120m revenue green services business in the UK. From these foundations, the group is ideally positioned to continue to grow in the UK – and elsewhere – organically and by selective acquisition.”
Nick Temple-Heald, CEO, idverde UK, said: “We are delighted to now have as strong a presence north of the Border as south and look forward to working with our new colleagues in Scotland to grow idverde’s business both there and across the United Kingdom. Livingstone continues to play a valuable role in idverde’s UK growth strategy.”