Founded in 1994, Waterscan helps customers to develop effective sustainable water management strategies.
It employs more than 60 people at its sites in Chichester and Rotherham and advises a UK-wide customer base of blue-chip companies, including household names such as BT, Greene King, Sainsbury’s, John Lewis, and Whitbread, the owner of Premier Inn.
Waterscan’s proprietary technology platform, Waterline, provides real-time data and insights on water management that enable customers to save water, reduce cost and make informed strategic decisions.
This is supplemented by its end-to-end water solutions approach – including the ability to facilitate adoption of the self-supply model, which provides businesses with complete control of their water by enabling them to deal directly with water wholesalers and Ofwat.
LDC is backing Waterscan’s existing management team, led by founder and CEO Neil Pendle, commercial director Nick Hayes and operations director Barry Millar, as it pursues a growth strategy underpinned by investment in its technology and consultancy services.
The transaction marks an exit for family office Kaye Enterprises.
Stefan Gunn and Sally Tam of LDC will join the Waterscan board as non-executive directors, alongside Neil Penhall who joins as non-executive chair.
Neil is the former CEO of environmental consultancy SLR Consulting and has more than 35 years’ experience driving international growth in the sustainability sector.
Neil Pendle, founder and CEO of Waterscan, said: “It’s essential that water forms a key part of every business’ sustainability strategy and it’s great to see awareness of this increase.
“We’re helping our customers to develop strategies that save water, reduce cost and ultimately help them to reduce their water footprint.
“It’s an exciting time for the water sector and our partnership with LDC will enable us to further invest in new technologies and ultimately deliver even better outcomes for customers.
“We’ve been impressed with the team at LDC since our very first meeting and are looking forward to having them with us for the next stage of our growth journey.
“We’d also like to thank the team at Kaye Enterprises for all their support to date.”
Stefan Gunn, investment director at LDC, added: “Neil and the team at Waterscan have a great deal of experience having pioneered the self-supply model post market deregulation in 2017.
“They’re hugely passionate about helping businesses to achieve their sustainability goals.
“They’re supporting customers across all corners of the UK and helping them to optimise water usage at a time when all consumers are starting to recognise the increased value – and indeed scarcity – of water.
“We’re excited about what the future holds for Waterscan as it continues to invest in Waterline and broaden its services, and are pleased to welcome Neil Penhall to the board as he brings significant and relevant experience.”
Working capital facilities for the deal were provided by Virgin Money.
