RSE, the UK’s leading modular service provider to the water industry, has partnered with growth capital specialists, MML Capital Partners (“MML”) to continue its impressive growth journey. MML will partner with existing investors, Envoy Capital Management Ltd (“Envoy”) and management.
Allan Dallas, Managing Director of RSE commented: "We do not expect this change to affect our employees, other than in a positive way. The partnership with MML will help us accelerate the growth of the business safely, providing high quality jobs, promotion opportunities and long term employment. We also expect RSE to advance beyond UK shores, taking its innovations internationally.
"Our business is winning because of the culture we have formed at RSE. We believe a business’ culture can only ever be the sum of the people that work for it, especially in our field which is technically orientated. With this in mind we have sidelined a £1.3 Million bonus package to be shared across our employees."
With MML’s investment and under the continued leadership of Iain MacGregor and Allan Dallas, RSE is well positioned to continue to drive transformational change across the water industry
RSE focuses on developing and maintaining the UK’s water treatment plants and its innovative engineering solutions are helping the industry modernise and provide better outcomes for consumers and the environment. RSE was founded as a family business in 1982 by Allan Dallas. In 2019 Envoy & management led a buyout of RSE from Global Energy Group, with an ambition to develop and prove new ways to build water treatment assets for the UK market. Since then, through a combination of organic and acquisitive growth, revenues have grown from £60m to over £200m today and RSE now employs over 1,500 staff across the UK.
With MML’s investment and under the continued leadership of Iain MacGregor and Allan Dallas, RSE is well positioned to continue to drive transformational change across the water industry.
Richard Mayers, Managing Partner of MML’s UK partnership fund, commented: “We have built a strong relationship with Iain, Allan and the team over two years, which has demonstrated we have strong alignment on strategy and values, particularly on building sustainable businesses. We are therefore delighted to be cementing that relationship with this partnership investment to support their ambitious growth plan. The water sector is experiencing significant change and RSE is well-positioned to help the industry innovate to deliver better quality water for consumers and the environment. This is an incredible team and we are fortunate to be partnering with them at this stage of their journey.”
Envoy & RSE Chief Executive, Iain MacGregor, added: “The investment by MML marks a key milestone in the RSE growth story, providing new access to capital and confidence to pursue our ambitious plans. Envoy and management will continue to be majority shareholders in RSE, backed now by a private equity firm with international experience and reach. Our decision to partner with MML was founded on shared values and a goal to change the way water companies and industrial water users enhance their treatment processes.”