Posted: 24 November 2020

Spotlight on Aptus Utilities

Spotlight on Aptus Utilities

If you're interested to know a little more about the companies we invest in, what we look for in them and what we bring to the table, read on. Here Peter Barkley, tells us a little about Aptus Utilities.

1. Tell us a little about Aptus

Aptus is one of the UK’s leading providers of multi-utility services. The company is fully accredited to design, build, install and connect gas, electricity and water networks, as well as street lighting, on residential, commercial and industrial developments. By providing a completely integrated package of services, Aptus ensures improved site development efficiency which enables developers to accelerate the completion, marketing and sale of their plots.

Aptus operates from its headquarters in Bolton and has five regional depots across the UK, covering the North West, Cumbria, North East, Midlands and Yorkshire.

2. When and what did WestBridge invest?

WestBridge invested £12.8m in the transaction alongside further finance provided by OakNorth Bank. WestBridge partnered with managing director, Lisa Kerford, and her executive team who will steer the future strategy of the business alongside newly appointed chairman, Martin Donnachie. Founders Jonathan Holden, Andrew Reay and Fred Story retained a significant shareholding with Holden and Reay taking up non-executive positions to support the executive team going forwards.

3. What was it about Aptus that appealed to you?

Jonathan, Andrew and Lisa had created a highly respected business with a track record of delivering substantial growth every year since inception. Investing in Aptus presented an exciting opportunity to build on the strong foundations the team had put in place. WestBridge specialises in assisting management teams put the infrastructure and investment in place to deliver ‘next level’ growth and, with collective support and experience of the WestBridge team and new chairman, Lisa and her team are delivering on their plan to take Aptus’ market leading delivery into new regions and markets.

4. How is WestBridge adding value?

Developing Aptus’ go to market strategy in new regions has been a focus for the Board since our investment. We have introduced a number of important contacts from our network in addition to deploying some help from our operating consultants to support the team in this regard. In addition to this, people are key to Apus’s business and our experience of growing businesses has allowed us to help the team manage the challenges of keeping the ‘Aptus’ feel in a growing organisation.

5. And what of the future?

The team has done a great job in building the business we have today. The foundations are in place for Aptus to become a significant player across the UK. Delivering on this is the next step. There are also a number of exciting strategic opportunities that, with the firepower and support of WestBridge, the Board is considering alongside the core business. We look forward to working with Lisa and her team to deliver their plan.

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