Ipsum’s journey
By 2023, Ipsum was a leading provider of specialist utility and infrastructure support services, with 530 employees, generating annual revenues of £86m. The business combined the operational aspects of managing and maintaining infrastructure networks with smart IT solutions, providing real time information on asset performance. The company’s blue chip customers included the water and electricity utilities and the private sector.

 

Planning to build the business
Aliter worked closely with the management team at Ipsum, developing the strategy to;

• drive growth through a blend of organic expansion and acquisitions;

• deliver the highest quality customer service by multi-skilled teams, to optimise efficiencies and value; and 

• broaden the range of services and geographic areas covered. 

 
Richard Thomas, CEO, Ipsum comments, “Aliter’s support was instrumental in our strategy development and business planning. Their significant operational experience introduced a vitally important practical element to the whole planning process”. 

 

Supporting organic growth
The Aliter team was always a readily available source of expert advice on a wide range of matters. Examples include the analysis, evaluation and optimisation of the customer journey and how to measure customer satisfaction levels. They also provided specialist expertise in profiling during Ipsum’s selection and recruitment processes and there was expert help with financial modelling and optimising the company’s work in progress.

 

Growing through acquisition
Starting in 2017, Aliter backed a series of five carefully targeted acquisitions, to enhance Ipsum’s service offering and its coverage of the UK. The acquisitions added;

• Specialist asset management services. 

• Drainage maintenance and repair, civil engineering, asset mapping and flood prevention services.

• Electricity network asset installation, maintenance and repair services.

• Specialist expertise in electricity distribution and high voltage environments.

 
Richard Thomas comments, “Aliter provided invaluable support and expertise during the due diligence stage of all transactions and helped tremendously in the preparation of financial data for each acquisition and ultimately the exit”.

 

Outstanding Performance
During Aliter’s ownership of Ipsum, revenues grew by more than 1,200%, workforce numbers by 670% and EBITDA increased by more than 580%.
 
Reflections from the CEO
On the overall experience of working with Aliter, Richard Thomas says, “The Aliter team has   worked extensively in industry; they understand what is needed to run and grow a business and how to drive a return for both investors and investees. They are forward looking, bringing clarity of thought, clarity of insight and a sense of realism in all their dealings. Alongside this, they have the ability to approach sometimes difficult business challenges and quickly get to the heart of things”.
 
In conclusion, he says, “Aliter provided the encouragement to grow, in a no-nonsense way, avoiding a lot of traditional corporate mechanisms that can get in the way. Their style is straight down the line, with no red lines. Everything is up for discussion and debate. Working with Aliter was an incredibly rewarding journey, with a lot of fun along the way and I would not hesitate to work with them again in the future”.

 

Realised Investment
Aliter realised its investment in Ipsum when the sale of the business to IK Partners was agreed in May 2023.

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