Preston-based utilities and infrastructure specialist Ipsum Group has acquired Stormport Professional Services, its second acquisition of 2019 and fourth overall.
Stormport is based in Cambridgeshire and was founded in 2009 by Steve Wright and Pete Hulyer. It provides electricity network asset installation, maintenance and repair services, and network connections to the DNO (Distribution Network Operator) and ICP (Independent Connections Provider) markets.
The acquisition, backed by Aliter Capital, takes Ipsum Group's total revenues from £54m to £65m and increases its headcount from 400 staff to approximately 530 staff.
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