A LEADING UK firm based in Uckfield has announced a multi-million buy-out. Itmsoil ranks in the top four worldwide, both for the design, manufacture and supply of instruments and for installation and monitoring service to the building and insurance industries. It makes instruments to monitor the stability of infrastructure like tunnels, mines, dams and roads. They are also used to monitor coastal erosion, detect impending landslides and check earthworks and excavations.
The buy-out was led by chief executive officer Mark Kirkbride who has overseen rapid growth of the company since he joined in 2010. Itmsoil has doubled in size in the last two years with turnover heading toward £30million for 2012 and beyond.
Mark Kirkbride restructured the business, built a new management team and defined a clear strategic plan. The company is pursuing opportunities to acquire additional skills and businesses.
He said: “The future holds many opportunities and we are in an excellent position to expand further as well as benefit from increasing infrastructure expenditure worldwide.”
The Itmsoil group was founded in 1992 by Jon Scott and Chris Rasmussen, also as an MBO from previous owners. The manufacture of geotechnical instrumentation was added in 2002 with the acquisition of the Uckfield-based plant.
Mr Scott and Mr Rasmussen will both retain a shareholding in the group. There are 180 employees, an HQ in Uckfield and offices in London, France, Germany, the USA and Australia plus 40 distributors across the world.
Mr Kirkbride has formed a new holdings board for the group which includes a newly appointed non-executive chairman, Howard Stones, a highly experienced senior director in the construction and specialist infrastructure market; James Cook, finance, and Steve Currie and Peter Fordyce both as non-executive directors. The new main operating board, all members of the buy-out team, comprises Mark Kirkbride, chief executive officer; James Cook, finance; Bob Tutill, itmsoil instruments; Mark Wildash, commercial; Mark Heath, itmsoil services and Eric Gastine, European development.