Business acquisition opportunity
Water hygiene and legionella compliance business, Yorkshire and the North East
Anonymised as Project Wrenfield
Anonymised mandate, codename PROJECT WRENFIELD
Water hygiene and legionella compliance business, Yorkshire and the North East
Water hygiene, legionella risk assessment and remedial works
Why this business is called Project Wrenfield
Project Wrenfield is a working codename, chosen at random by DealFlowAgent (DFA) and standard practice in mergers and acquisitions. It exists so the business can be discussed with acquirers, funders and advisers without naming the company or alerting its staff, customers and competitors. The codename is not connected to the company, its brand or its trading name, and searching for it online will return nothing about this business. Everything you need in order to judge fit is on this page in banded form. The company is named to one verified acquirer only, after the owner approves that specific introduction in writing.
A founder-led water hygiene and legionella compliance business serving NHS trusts, universities, schools and local authority estates across Yorkshire and the North East. Statutory monitoring carries the revenue, and the remedial work follows the risk assessments the same team writes. Not on the market, and not represented by anyone else.
Verified acquirers only. A short non-disclosure agreement releases the financial pack, the reserve figure and the contract base analysis. Identity is disclosed at the third gate, with the owner's written approval.
Indicative value range
£4.5M to £10M
Derived from comparable UK transactions in this sector over the last 24 months. This is a market reference, not the owner's number. The reserve is set separately and disclosed under non-disclosure agreement.
- Sector
- Water hygiene and legionella compliance
- Region
- Yorkshire and the North East
- Ownership
- Founder-led
- External investors
- None
- Structure sought
- 60% to 100%
- Adviser status
- Unrepresented
£4-6M
Revenue
18-22%
EBITDA margin
70-80%
Recurring revenue
92%+
Contract renewal
18+ yrs
Trading history
45-65
Employees
Over 1,500
Monitored sites
Majority
Public sector share
Why every figure is a band
Companies on this register are real businesses with staff, customers and suppliers who do not know their owner is listening to the market. Exact figures are a fingerprint: a precise turnover, a filing date and a region will narrow most UK sectors to a single company. These bands are wide enough to protect identity and wide enough that a growing business does not fall out of its own mandate. Every band is verified against filed accounts and management information held by DealFlowAgent (DFA). Precise figures are released under a non-disclosure agreement.
01 Opportunity at a glance
What the business actually does
The business writes legionella risk assessments, runs the monthly and quarterly monitoring regime that follows them, and carries out the tank cleaning, chlorination, temperature control and remedial pipework the findings generate. Because the duty sits on the building owner rather than on a budget line, volumes hold through a downturn.
Between 70% and 80% of revenue sits under annual and multi-year monitoring and risk assessment agreements, with tank cleaning, chlorination and remedial pipework won from the same estates.
- Revenue mix
- 70-80% monitoring and risk assessment
- Largest client share of revenue
- Under 12%
- Monitored sites
- Over 1,500
- Average client tenure
- 7+ years
- Technicians
- Directly employed, City and Guilds trained
- Accreditations
- Legionella Control Association registered
- Framework positions
- Held on public sector frameworks
- Outstanding litigation or HSE action
- None disclosed
02 Why now
Sector timing
Water safety is one of the few building compliance duties that cannot be deferred, and the evidence trail is now examined by insurers as closely as by regulators. Buyers in testing, inspection and certification are paying for recurring statutory revenue with a directly employed technician base, because that combination cannot be assembled quickly from a standing start.
Nothing distressed. The founder has set a reserve so that only acquirers prepared to meet it are ever put in front of them.
What has changed for this owner
Nothing distressed. Approaches from consolidators have increased over the past two years and the founder has answered none of them. The decision was to appoint DealFlowAgent (DFA) as the filter and see qualified interest at a figure set in advance.
03 Financial profile
Three years, published as bands
Three years apart, published as bands and verified against filed accounts and management information. Growth is organic, from portfolio additions rather than price.
| Measure | Three years ago | Most recent full year |
|---|---|---|
| Revenue | £2.5-4M | £4-6M |
| Monitoring share of revenue | 65-75% | 70-80% |
| EBITDA margin | 15-19% | 18-22% |
| Contract renewal rate | 90%+ | 92%+ |
| Net debt | Minimal, disclosed under NDA | |
| Owner remuneration adjustment | Identified and quantified | |
Where the earnings quality sits
- Growth is organic. No acquisitions in the period.
- Monitoring revenue renews annually and has done so above ninety per cent for five years.
- Remedial works are won from the assessed estate rather than through open tender.
- Working capital is stable and seasonality is shallow.
04 The owner's position
Stated in advance, in writing
| Question | Stated position |
|---|---|
| Is the business for sale? | No |
| Would they transact at the right figure? | Yes, confirmed in writing |
| Reserve figure | Set, disclosed under NDA |
| Preferred structure | 60% to 100% of equity |
| Rollover appetite | Open to a meaningful rollover |
| Post-completion involvement | 12 to 24 months, negotiable |
| Management team | Expected to remain |
| Represented elsewhere? | No adviser, no other process |
What a reserve figure is
A reserve, as at auction. Before a mandate goes live, the owner completes a full valuation exercise with DealFlowAgent (DFA) and commits, in writing, to the figure at which they will engage seriously. It is private and it is never published. Nothing below it is ever put in front of them, so no acquirer is invited into a conversation that was never going to happen, and the owner is never asked to decline a low offer.
The reserve is disclosed to verified acquirers at non-disclosure agreement stage. It is a threshold for engagement. It is not an asking price and it is not a cap.
The work is not glamorous and it does not stop. If somebody wanted to buy it properly, and look after the technicians, I would listen.
05 Transaction process
The four gates
01
Acquirer verification.
Funding position, sector experience, prior completions and decision-making authority are confirmed by DealFlowAgent (DFA) before any company information is released. Unfunded parties and brokers acting without a named principal do not proceed.
No company information released
02
Non-disclosure agreement and financial pack.
A short non-disclosure agreement releases the financial pack, the reserve figure, the contract base analysis and the management structure. The company is still not named.
Identity withheld
03
Owner approval and introduction.
We put the acquirer to the owner with a written profile covering their intent, their integration approach and their treatment of teams in previous acquisitions. The owner decides. Only on their written approval is the company named and a meeting arranged.
Owner's written approval required
04
Indicative offer.
Acquirers who meet the reserve are invited to submit an indicative offer. Where more than one qualifies, we run a structured process from that point.
Reserve must be met
06 Which acquirers this suits
A strong fit, and not a fit
A strong fit
- Testing, inspection and certification platforms adding water safety
- Facilities management groups with healthcare and education estates
- Private equity platforms building a compliance group
- International acquirers entering UK water hygiene
Not a fit
- Parties without committed funding at the indicative range
- Buyers requiring the founder to exit at completion
- Structures weighted heavily to deferred consideration
- Acquirers intending to move delivery to subcontract
07 About the Off-Market Register
What this register is
How the register works, and where to start
The Off-Market Register carries companies that are not for sale, at prices their owners have already set. Each owner has completed a full valuation exercise with DealFlowAgent (DFA) and committed in writing to the figure at which they will engage.
Every acquirer is verified before they see anything, every document released is watermarked to the recipient, and every access is logged. Before a mandate goes live it is tested three ways for de-anonymisation, and all three tests must fail to identify the company.
If you own a business in this sector, start with the free valuation, read the sector valuation guides or speak to us confidentially. If you acquire businesses, request acquirer access.
08 Questions
Answered in full
If the owner is not selling, is this a waste of my time?
The owner has committed a reserve figure in writing and has agreed in advance to meet acquirers who clear it. You are seeing a business before any process exists, without a competitive auction and without six other parties at the table. What you are not getting is a motivated seller, and you should price accordingly.
Why are the figures banded?
Because precise figures identify the company. A turnover to the pound, a filing date and a region will narrow most UK sectors to one business. Exact figures are released at non-disclosure agreement stage.
Will I be told the reserve before I commit time?
Yes. The reserve is disclosed at non-disclosure agreement stage, before any meeting and before any diligence.
Can I approach the company directly if I work out who it is?
Acquirers who circumvent the register are removed permanently and the owner is informed.
Who pays DealFlowAgent (DFA)?
The owner, on completion only. There is no charge to acquirers at any stage, and no fee is payable by anyone if a transaction does not complete.
Own a business like this one?
Every mandate on this register began with a ninety-second valuation and a conversation. No retainer, no exclusivity, and your company is never named until you approve a specific introduction in writing.
Request access to Project Wrenfield
Verification takes under a working day. On approval you receive the financial pack, the reserve figure and the contract base analysis under a non-disclosure agreement. The company is named only with the owner's written approval.
DealFlowAgent (DFA)
Water hygiene, legionella risk assessment and remedial works
Project Wrenfield is a confidential mandate on the DealFlowAgent (DFA) Off-Market Register. All figures are banded and verified against filed accounts and management information. Nothing on this page constitutes an offer or an invitation to treat. DealFlowAgent is a trading name of BTB Holdings Ltd, registered in England and Wales.
