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BGF backs Environmental Essentials first acquisition

Environmental Essentials, one of the UK’s leading asbestos service providers, has secured a further £2.4 million follow-on investment from growth capital investor BGF to support its acquisition of Adams Environmental.

Adams Environmental, which specialises in the listed building and education sectors, servicing high-profile buildings such as the National History Museum and Imperial College London, is the company’s first acquisition.

Founded by  Richard Powner and James Riley in 2004, Environmental Essentials operates from four offices throughout the UK, including Stoke-on-Trent, Glasgow, Crawley, and London. The business provides asbestos management, training and surveying to businesses, local authorities and public sector organisations. Clients include the Houses of Parliament, tier one construction companies, NHS Trusts, high street food retailers and pub operators. 

Environmental Essentials says the acquisition signals the start of an exciting growth phase for the business, as it looks to expand its geographical footprint and diversify its service offering.

The additional equity funding has been committed to support future acquisitions. It takes BGF’s total investment in Environmental Essentials to £5.7 million.

Commenting on the deal, Powner said: “We’re delighted to welcome Adams into the Environmental Essentials fold. This marks a significant step forward in our growth ambitions, on the back of a strong trading period throughout the Covid pandemic, and is another positive milestone on our investment journey with BGF, which has had a considerable impact on our business since 2015.

“Asbestos management has been a core part of our business since we launched 18 years ago. However, we believe that there is significant potential to expand our offering, not just geographically but also by diversifying into complementary areas, including water hygiene and fire risk management. This will not only strengthen our proposition, but provide clients with a ‘one-stop-shop’ for key compliance services.”

BGF Investor, Jon Earl, added: “Since 2004, Richard and James have built up a strong reputation in asbestos management. The acquisition of Adams Environmental enables them to strengthen their position in important markets, such as listed buildings and education. Through an exciting buy and build strategy, the team will also be able to broaden their compliance offering to customers, with the additional funding strengthening their commitment to investing in proprietary technology, as well as training and development.”

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