Future Industrial Services

Business Description

Future Industrial Services (FIS) provide safe, value-added environmental services and specialist industrial services, across the UK and Ireland.

Background

Headquartered in Kirkby, Merseyside, FIS work with clients across government, major utility and multi-national companies to provide a range of specialised and cost-effective environmental and industrial services. FIS’ unique asset base also provides for the recovery and re-use of industrial waste by leveraging well-invested facilities that are located in strategic locations across the UK.

NorthEdge Investment Rationale

FIS own and operate eight sites across the UK, from the Scottish Borders to the South Coast, which provide high quality industrial and environmental services; all operated to best in class quality, health, safety and environmental standards – delivered by a highly skilled workforce. This provides the platform to continue to build-out FIS’ strategic hazardous waste treatment, transfer and recovery assets – as well as to enhance its market leading industrial services provision into the ERF/EFW market.

Strategy

NorthEdge backed the management buy-out from FIS’ Irish listed parent company, One51 PLC, at an equity value of £16m.

The MBO was led by FIS CEO, David Lusher. NorthEdge’s investment will enable the company to invest in standalone, market-leading IT systems and environmental, health and safety compliance. The company also has plans to grow through increased investment in modern fleet, plant, equipment and machinery.

The deal was led by NorthEdge Managing Partner Ray Stenton, with support from Jon Pickering, Partner and Head of New Investments and George Potts, Director and Head of ESG.

Ray Stenton said: “FIS is recognised by its customers as a best-in-class service provider, delivering safety, quality and compliance in their work. We become stakeholders in FIS following an extensive capex program and look forward to further investing in flexible fleet and plant. David managed the buy-out superbly and we are excited to support him and the wider team at FIS to deliver their strategic ambitions.”

David Lusher, CEO at FIS, said: “We are delighted to have concluded the MBO from One51 PLC with funding from NorthEdge, who have been very supportive throughout the process. All acquisitions made by the business over the last 12 months are now fully integrated and performing well and FIS can now offer services to industrial customers on a national scale. NorthEdge and management have a shared vision for the business over the coming years and with this renewed focus we will work tirelessly to ensure that FIS achieves its full potential.”

SectorEnvironmental Services
LocationKirkby
Deal TypeMBO
Investment DateApril 2017
Employees300
NorthEdge Contacts George Potts

NorthEdge and management have a shared vision for the business, we will work tirelessly to ensure that FIS achieves its full potential.

David Lusher, CEO