Clearwater advises WestBridge on its investment in Survey Solutions

Transaction

WestBridge acquired Survey Solutions from RJD Partners

Buy-side

Undisclosed

Role

Adviser to WestBridge on its investment in Survey Solutions

Sector

Business Services

Region

Clearwater has advised WestBridge on its investment in Survey Solutions, a leading provider of engineering surveying and monitoring services.

Established in 1997, Survey Solutions has experienced impressive growth to become a national company with 14 regional offices and 160 full time employees, most of whom are specialist surveyors. The business has also expanded its service offering to clients, adding capabilities such as drone surveying and hydrographics.

Survey Solutions provides land, building, underground and site surveys, along with a range of support services covering the lifecycle of a development. Working predominantly with housebuilders, contractors, architects, engineering consultants, agents and asset owners, the business works on projects in a diverse range of sectors, including infrastructure, agriculture, defence, transport, energy, retail, leisure, healthcare, education, heritage, and commercial and residential construction. It has a broad range of clients including Thames Water, Transport for London, Aecom, Jacobs, Balfour Beatty and Kier.

The transaction provides an exit for RJD Partners and Survey Solutions founder James Cooper, and sees WestBridge taking a majority stake in the business. Debt funding for the buyout was provided by alternative finance provider, ThinCats.

Clearwater provided WestBridge with M&A and Debt Advisory support.

Survey Solutions holds a strong position in a niche and extremely fragmented market, with high barriers to scale. There is significant opportunity for growth, both organically and through consolidation. My colleagues and I have been immensely impressed with the team from WestBridge, who share our belief in the huge potential for growth that lies ahead. We are particularly enthused by the WestBridge Value Creation Model, which provides a blueprint for rigorously identifying revenue accelerating improvements and growth opportunities within the business. We are genuinely excited to be entering 2024 with WestBridge as our partner. With their strategic support and financial backing, I am sure my colleagues and I are about to start on a very exciting journey. I would like to thank RJD Partners for their support in the development of the business to date, and wish them the very best for the future.
David Lowe, CEO, Survey Solutions

We are delighted to have completed our second investment from our third fund within five months. The whole WestBridge team has been impressed by the experience and ambition of the management team and are excited about the business’ growth prospects. Our model is centred on partnership, backing outstanding teams and supporting them through our Value Creation Model to deliver rapid growth. We see a significant opportunity to build a leading platform in the UK surveying and monitoring market, providing outstanding outcomes for new and existing customers. There is huge potential for both organic and acquisitive growth.
Peter Barkley, Partner, WestBridge

We are delighted to have advised WestBridge on its investment in Survey Solutions, representing its latest platform investment in the Business Services sector. Since joining as CEO, David and the management team have delivered impressive growth, building a leading platform in the sector and with WestBridge’s backing we are certain they’ll continue to deliver positive results. We would like to wish all the best to Survey Solutions and WestBridge as they embark on this exciting partnership together.
Mark Maunsell, Director, Clearwater