Two Rotherham businessmen take the reins of a growing town company

(L-R) Steve Lyon & David Stacey. David Stacey, Director of Industrial Pumps Ltd, right, pictured with Steve Lyon of UKSE.

Managing director Dave Carley and sales director David Stacey now have full control of the business for the first time since they undertook a management buyout in 2016.

Their buyout of Rotherham firm Industrial Pumps Group (IPG) was backed by a £500k investment from UKSE which helps businesses in former steel areas with investments, loans and premises.

The latest move follows a period of sustained growth for IPG – based at Quintec Court – which has seen it build its market share and develop its product offer, setting up agreements with a number of the major water companies.

The business has increased its turnover by £5m, and its headcount by 23.

Mr Carley said: “We are extremely grateful for the success and growth we have experienced over the past year and especially thankful for Steve and the UKSE team for the support we have received over the years.

“The initial investment helped to facilitate the expansion of Industrial Pumps across our customer base and create new jobs which meant we were able to secure the company’s future here in Rotherham.

“Furthermore, exit discussions were fair and straightforward over two rounds to suit our cashflow, with no penalties.”

“We believe we are a stronger and more valuable company for having worked with UKSE, and we remain committed to our original vision of continuing to grow, and to create further job opportunities in the local area.”

The firm has again approached UKSE for a further loan to help the company grow even more.

Steve Lyon, area manager at UKSE, said: “Working with Industrial Pumps Group has been an absolute pleasure over the last six years. The sustained growth of the business is a testament to the hard work and commitment the directors have shown. We wish them the best of luck with their future growth ambitions.

“As ever we are delighted to have positively contributed to a business which is creating job opportunities and to have helped a local business retain its strong presence within the region.”