Rotherham’s Industrial Pumps completes MBO following investment from UK Steel Enterprise

Industrial Pumps Ltd, the Rotherham-based pump supplier, has undergone a management buyout with the help of a significant investment from UK Steel Enterprise.

Established in 1988, Industrial Pumps is a pump distributor specialising in repairs and general engineering and one of only seven official Mono Pumps distributors in the UK

Existing company directors David Carley and David Stacey, who have both worked at Industrial Pumps since trainee level in the 1990s, bought the business from previous owner Chris Garner.

The buyout sees David Carley take on the role of Managing director and David Stacey take up the post of sales director.

The duo has now revealed expansion plans to build on the company’s recent growth which has seen turnover double to around £4m in the last 4 years.

The news comes after UK Steel Enterprise, a subsidiary of Tata Steel, provided investment through its Equity Growth Fund, which is backed by the government’s Regional Growth Fund.

The deal was referred by John Parkin of PKN Chartered Accountants in Rotherham.

The funding will facilitate continued expansion of Industrial Pumps across its customer base, which includes water utility companies and OEMs; as well as enable the company to improve its digital platforms and create new jobs in Rotherham.

David Carley said: “This investment from UK Steel Enterprise has provided us the opportunity to carry on building the company’s reputation and work towards our ambitious growth plans.

“Our immediate vision is to take the company into both new long-term contracts in the utility and industrial sector, whilst also ensuring that the existing employees have both security and opportunity to progress as well as recruiting for new roles from across the region.”

Allan Wood from UK Steel Enterprise added: “Industrial Pumps is a great example of an already successful South Yorkshire business, with significant opportunities for further expansion. We have backed them because we believe they can grow and create more jobs locally.

“We have every confidence that the new management team will take Industrial Pumps to the next level and are looking forward to supporting them in achieving their future plans.”