An equity investment from Leeds-based YFM Equity Partners has funded the buyout of Bedfordshire firm SOS Leak Detection.
David Wrench, YFM investment partner, said: “SOS Leak Detection has carved out a great position in the repair and restoration space, combining technology, exceptional training and industry-leading customer service levels to resolve escape of water issues efficiently, reducing waste and costs to insurers and property managers. As one of the only truly national providers, and with an extremely experienced MD at the helm, it is well placed to build on its strong foundations.”
The buyout was led by MD Jamie Nash, who will be supported by incoming chair Stuart Black and founders Nik Day and Brad Wilby, who will remain significant investors in the business and will continue to provide strategic and business development support.
SOS Leak Detection is headquartered in Wyboston Lakes, Bedfordshire, and has grown to a team of 35 including 25 specialist engineers. With significant experience in technology-led non destructive escape of water detection and associated remedial services, it mainly serves customers in the insurance sector including insurers, loss adjusters and property managers. , working across the UK. Its award-winning service within domestic and commercial settings has resulted in SOS Leak Detection resolving more than 15,000 escape of water instances over the last three years. This approach has led to an excellent track record of customer satisfaction via minimal on-site disruption and damage, ultimately improving the customer journey and reducing overall reinstatement costs for the insurer.
