News
16 January 2012 – Press Release
A new era dawns for Jet-Vac Systems
Jet-Vac Systems, based in Port Talbot, has taken advantage of equity investment from Finance Wales to fund a management buyout of the Company, following the retirement of founder Nigel Drane. Established in 1989, Jet-Vac provides specialist industrial cleaning services to the petrochemical, power and utilities markets, and counts a number of high profile companies among its wide customer base. The new management team – Geraint Jones, Richard Wells, Paul Williams and Kevin Viant – has focused on designing a fresh corporate identity, seeking new opportunities to expand and develop the Company while building on its strong reputation for industrial vacuum services, high pressure water jetting, catalyst handling and mechanical bolting.
Damien Connolly, UK and Ireland Country Manager for Norit Activated Carbon, commented: “This is an extremely specialist field, and we are very happy to work exclusively with Jet-Vac as our service partner. Jet-Vac has the skill set, expertise and knowledge to deliver the high service standards that our clients expect. I have total confidence in them.”
“The buyout marks the start of a new era for Jet-Vac, and we are committed to expanding the Company and extending our range of services to suit both existing and future customers,” said Managing Director, Geraint Jones. “We operate in highly regulated markets where new legislation and environmental concerns are driving demand, providing exciting opportunities for us to target. Jet-Vac’s previous success has established a solid foundation from which to further develop the business, and we look forward to a very bright future.”
26 October 2011 - Western Mail
26 October 2011 – South Wales Evening Post
http://www.thisissouthwales.co.uk/Cleaning-firm-s-buyout/story-13664650-detail/story.html
26 October 2011 - Wales Online
http://c.moreover.com/click/here.pl?z5382392418&z=1550248678
Port Talbot's Jet-Vac powers ahead with expansion plans after MBO
Finance Wales has completed an undisclosed equity investment in the business as part of a larger funding round
to buy the business from founder Nigel Drane.
Established in 1989, Jet-Vac provides specialist industrial cleaning services for the £155m-a-year petrochemical,
power and utilities markets. Jet-Vac alreadyhas a wide customer base which includes a number of high-profile
blue chip companies.
Dave Birch, investment executive at Finance Wales, with Broomfield and Alexander's director of corporate
finance Seamus Gates and Jet-Vac's managing director Geraint Jones.
Jet-Vac built its reputation servicing oil refineries, coal and gas-fired power stations, cement works and
waste-water treatment plants.
The new management team will continue to expand the company’s reach in these markets. They have also
recently added biomass fuel and carbon cleaning to the company’s range of services.
"Jet-Vac has developed a strong position in the market for industrial vacuum services, high-pressure
water-jetting, catalyst handling and mechanical bolting.
"We’ve already expanded our services and we see a bright future as new legislation and environmental concerns
drive demand for what we do,” said Geraint Jones, Jet-Vac’s managing director.
"The MBO marks the start of a new era for Jet-Vac, and the new management team is committed to expanding
the company.
"We operate in highly regulated markets where demand is continuing to grow, so there are some interesting
opportunities for us to target.”
Mr Jones and fellow directors, Richard Wells (commercial), Paul Williams (operations) and Kevin Viant
(technical) believe Finance Wales’ investment will enable them to build a sustainable business.
"Finance Wales has demonstrated confidence in us and our plans for the future. They structured an equity
investment because it best suits our long-term business plan,” said Mr Jones.
"We want to focus on expanding our range of services to suit both existing and new customers.
"We’re also looking forward to working closely with Finance Wales as we develop our business.”
David Birch, the investment executive at Finance Wales who worked with the new board of directors on the MBO,
said: "Geraint, Richard, Paul and Kevin are very committed and have worked hard to turn Jet-Vac into the
success it is today.
"They have a deep understanding of their customers’ needs and the markets they operate in.
"We’ve structured this equity investment to underpin their ambitions for the business and give them the best chance of success.
"This is only the start of our relationship with the team and we’re looking forward to working with them in the next
few years to help them achieve key milestones and make the most of our investment.”
Seamus Gates, director of corporate finance at Broomfield and Alexander, who advised the Jet-Vac team, added:
"The current climate for bank funding meant that the processes were more complicated than they might otherwise
have been for an MBO.
"We’re proud to have supported a management team as committed as Jet-Vac’s.
"We’re also pleased to have worked alongside Finance Wales, whose flexible approach to funding has helped a
number of our clients achieve their goals.”
Jet-Vac is Finance Wales’ latest investment in an environmental business.
"Environmental services is a growth sector which is being driven by a range of factors, from new legislation to the
introduction of new technologies.
"We’re keen to talk to more businesses in the sector with growth plans to add to our portfolio.”
25 October 2011 - Insider Media Ltd
http://c.moreover.com/click/here.pl?z5377663168&z=1550248681
Port Talbot-based Jet-Vac Systems has received funds from Finance Wales to fund the management buyout
(MBO) of the company.
The specialist industrial cleaning business' management team has used the undisclosed equity investment to
purchase Jet-Vac from founder Nigel Drane following his retirement.
The new team said it will continue to expand the company's reach in the petrochemical, power and utilities
markets.
The business has recently added Biomass fuel and carbon cleaning to its range of services, they added.
Managing director Geraint Jones said: "We've already expanded our services and we see a bright future as new
legislation and environmental concerns drive demand for what we do.“
David Birch, the investment executive at Finance Wales who worked with the new board of directors on the MBO,
said: "We've structured this equity investment to underpin their ambitions for the business and give them the best
chance of success.“
Birch added Finance Wales was on the look out for more businesses in which to invest in the sector.
"Environmental services is a growth sector which is being driven by a range of factors, from new legislation to the
introduction of new technologies. We're keen to talk to more businesses in the sector with growth plans to add to
our portfolio.“
Broomfield and Alexander advised the Jet-Vac team on the MBO.
Finance Wales was established by the Welsh Government in 2001 and provides commercial funding to small businesses throughout Wales.
