Posted: 6 August 2024

Transforming Survey Solutions

Transforming Survey Solutions

After spending 27 years in publicly listed businesses, David Lowe embraced the opportunity to lead a management buyout of Survey Solutions in December 2023. He explains why he believes there is immense potential for transformation in the fragmented world of surveying through consolidation and innovation.

With over 27 years of experience in survey, mapping and monitoring, my career has been dedicated to creating software and technology-enabled services that measure, monitor, and analyse the built and natural environment.

My journey in surveying began when I founded Yotta, where I led a pioneering team that developed industry-first solutions for infrastructure asset management, significantly improving the reliability and performance of critical assets.

Later, at Fugro, I directed multiple global businesses, enhancing our market position by delivering new geodata solutions to our clients. This included innovative approaches in road infrastructure, asset management, and geospatial data, positioning us as leaders in the industry.

Then, at Synectics Plc, I led a talented team to redevelop every product from the ground up, resulting in significant advances in digital twins, physical security, and real-time operational monitoring.

Survey Solutions stood out to me as the ideal platform to create the UK's leading full-service provider in engineering survey and monitoring.

Selecting the right partner to invest in our business and support growth was crucial for us. We were looking for a firm that not only understood our industry but also shared our vision for growth and innovation. Westbridge stood out because of the team’s deep market knowledge, proactive approach to identifying value sources, and genuine commitment to supporting our strategic goals. Their culture of collaboration and long-term investment aligned perfectly with our objectives.

After several meetings with WestBridge, during which we got a real feel for the people we would be working with, we were certain they were the right partners for us.

In an industry that primarily offers money, the difference lies in the people and, most importantly, their culture. Westbridge demonstrated this in every encounter before, during, and after meetings. This extended to the advisors they used for due diligence, who showed the same commitment to deeply understand our business, recognise the great work already done, and identify new opportunities to foster.

Our sector is highly fragmented globally. Despite its critical importance, there is no operator of significant scale that has invested adequately in people, technology, and the professional realisation of value for end clients. This creates a substantial opportunity for a full-service provider that can cover every aspect of survey and monitoring throughout the lifecycle of the built and natural environment. The market is ripe for a company that can offer a comprehensive, integrated approach to these services, and that’s where Survey Solutions comes in.

Alongside an established national presence and a passionate team, we have the advantage of not being bogged down by deeply ingrained, outdated business systems. Our team is eager to learn, develop, and grow, which is essential for driving innovation and maintaining a competitive edge. This enthusiasm, combined with our strategic vision and the right investments, positions us well to capitalise on the market opportunities.

The partnership with WestBridge has been transformative. Their proactive approach to value creation has been invaluable, providing the financial backing needed to take bold, calculated steps forward.

This support extends beyond financial resources. They have been true partners, committed to helping us identify new growth opportunities. With their support, we have been able to invest in new technologies, expand our service offerings, and streamline our operations. They have also emboldened us to think bigger.

Since receiving investment, one of our key focuses has been building a scalable platform to support the acquisition of new survey and monitoring businesses. We have hired an experienced development team to build a next-generation digital platform for our customers. We have also expanded our sales team, including bringing on board a Chief Revenue Officer and seasoned industry veterans.

Additionally, the WestBridge team were instrumental in identifying and hiring a new chairperson with deep industry experience, and recently replaced outdated assets to boost productivity. With the support of a specialist consultancy, we have also refined our market and value proposition.

Investing in our people has been a cornerstone of our strategy. Ensuring we have the right leaders and a capable senior management team in place is essential. But more importantly, we focus on building and developing our talent from within. We support our teams by fostering a collaborative and inclusive culture. By respecting each team’s unique nuances, we align around our shared goals, prioritising professional growth and teamwork. Our commitment is to create a workplace where everyone feels valued and motivated to contribute to our collective success.

Embedding our culture and maintaining it as we grow is crucial. Our commitment to a flexible and supportive work environment has been key. The loyalty and commitment of our employees, as evidenced by our low churn rate, has been a significant driver of our success. Our engaged workforce enables us to consistently deliver high-quality services to our clients.

When we were seeking new investment, we looked for partners who shared our values and vision for growth. The level of interest we received was humbling, and ultimately, WestBridge stood out due to their commitment, personal engagement, and deep understanding of our business. Our collaboration creates an environment where ideas can flourish and innovation can thrive.

Survey Solutions is poised for continued success and further growth. Our five-year plan includes creating an international presence and investing in new services, products, and revenue models.

With a strong team and the backing of dedicated partners like WestBridge, the future is indeed bright and we are committed to maintaining our leadership in the industry.

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