The deal sees nmcn pay a nominal £1 upfront for the £8m revenue business, which made a pre-tax loss of £1m last year, followed by a final payment of up to £3.75m depending on future profits over three years.

John Homer, nmcn chief executive, said: “The strong cash position we’ve been able to build in recent years has enabled us to take the next step in broadening our offering to the water sector.

“The acquisition of Lintott Environmental Technologies & Lintott Control Systems is an extremely exciting opportunity and a commercially viable deal.

“This acquisition offers an excellent opportunity for nmcn to strengthen and expand our already established offering to the UK water industry and potentially other markets in the future in providing off-site build, chemical dosing and control systems.

He added: “The acquisition complements our full asset lifecycle management offering to the water sector in offsite manufacture, production and maintenance of assets.”

Former owners David Owen and Jamie Thums will remain directors of both acquired businesses, with Mark Davy assuming the role of operational lead for LCS.