Operating profit also increased to £14.0m compared to £6.5m in the prior year.

During the financial year, RSE – which has offices across the UK, including in Aberdeen, Bath, Bristol, Glasgow, Darlington, Leeds, Nottingham and London – acquired three specialist companies – DPS (Glenrothes), Greenacre (Dewsbury) and GPS (Bristol). These added to RSE’s regional hubs as well as enhancing the company’s technology differentiation.

20% of RSE’s growth was attributable to acquisitions, with the remaining 80% achieved organically.

Iain MacGregor, RSE’s executive director, commented: “We have a strategy to modernise the water sector by pioneering new technology into factory-built and standardised water treatment facilities.

“This approach has proven to reduce construction schedules, enhance quality, provide greater cost certainty and have a positive impact on the environment.

“The growth in the year was attributable to growing established markets in Scotland and opening new markets in England, increasing demand for our products and solutions.”

Murray Tinning

During 2023 RSE attracted investment from growth capital specialists MML Capital Partners. The business also announced the appointment of new executives Stephen Slessor as CEO and Murray Tinning as CFO, to start in January 2024. Complemented by existing owners and management, these new partnerships are expected to accelerate future growth to meet demand in new municipal and industrial markets.