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News Corporate 9th Jun 2023

Freeths advises Evolution Water Services Limited on their recent sale to Phenna Group

National law firm Freeths has advised Evolution Water Services Limited on its high profile sale to Phenna Group.

Formed in 1999 and headquartered in the Thames Valley, Evolution is a leading UK provider of compliance-driven water treatment/hygiene and air quality monitoring services.

The business has steadily grown over the last few years to over 80 employees and serves over 400 customers across multiple markets.

Phenna Group, headquartered in Nottingham, is a group dedicated to investing in independent Testing, Inspection, Certification and Compliance (TICC) companies, delivering services to a global diversified client base.

The transformative move from Evolution was based on the premise of finding the right partner to deliver future growth plans and support the expanding team in a culture that matches its own.

Phenna Group is committed to its strategic growth plans as this is its seventh acquisition of 2023 and the second in the water services market.

This acquisition will bolster the business’s offering in the rapidly growing built environment division complimenting its existing services including infrastructure, compliance and certifications.

The Freeths legal team was led by partner and Head of Corporate Leon Arnold, supported by associate James Lapham, trainee solicitor Thomas Dingwall, Tax partner Claire Boyce, Tax senior associate Nur Alzubeydi and Employment senior associate Kathryn Pickard.

Leon Arnold commented: “It was a pleasure to be able to advise the shareholders of Evolution Water Services Ltd. on the sale to Phenna Group. Each deal team worked in a collaborative and pragmatic fashion, and we are delighted to have assisted in achieving a successful outcome for all involved.”

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