Sovereign Capital, a UK private equity firm has acquired certain trading assets of drain and sewer cleaning provider Future Environmental Services, the first transaction for the recently backed Euro Environmental Group.

Founded in 1999, Future’s customer base includes Balfour Beatty, Scottish Water, Thames Water, Clancy Dowcra, Mouchel and Enterprise.
 
Sovereign Capital says Future’s strong operational management and systems will complement EEG’s experienced team, led by Rod Spinks, chief executive officer.

EEG’s 330 strong workforce are now able to deploy their fleet of 250 vehicles from 12 sites across the UK to provide a full range of services, from cleaning small diameter pipes in urban environments to major de-silting operations.
 
Future brings additional services to the combined group, including expertise in flow monitoring and an extensive pipe lining capability.
 
Spinks says: “In less than one week since we were backed by Sovereign, we are delighted to have achieved immediate critical mass in our growing market. We very much look forward to working together to further develop our combined presence throughout the UK.”
 
Andrew Hayden (pictured), managing partner at Sovereign, adds: “Future and EEG now have the opportunity to cross sell their capabilities amongst their diverse customer base and benefit from the scale of the combined group. We will support management to further grow the business and take advantage of the imminent regulatory investment cycle.”
 
Overall, Sovereign has committed total funding of GBP20m to EEG.