Drainology bought by Wales Environmental
West Country-based drainage company Drainology, which celebrated its 20th anniversary earlier this month, has been bought by Wales Environmental.
The deal was funded by a six-figure loan from the Wales SME Investment Fund, managed by Finance Wales.
The acquisition is part of Wales Environmental's plans to increase its UK footprint and increase its fleet by 20 per cent. It follows its 2014 purchase of Cardiff Drain Cleaning Company.
Drainology, which has customers in Devon, Cornwall and Somerset, will continue to trade under its own name following the acquisition.
Llyr Williams, Wales Environmental managing director, said: "Acquiring Drainology has further increased our capacity, provides us with an operating centre in a key market, and will enable us to improve our operational effectiveness.
"We're now well placed to increase our customer base in the South West of England."
Wales Environmental has depots in Cardiff, Pembrokeshire, Holywell, Oxford and Anglesey. Finance Wales previously financed the company's management buyout in 2011.
The company said that further expansion was planned in the next few years.