Elysian Capital has acquired maintenance business Fastflow.

Fastflow provides maintenance services to the owners of water, gas and social housing assets. It has turnover of around £75m.

The company began in 2005 when founder Neil Armstrong bought Fastflow Pipeline Services from Northumbrian Water. The gas division was launched as a start-up in 2012 while the social housing unit was acquired two years later.

The deal is the third from the UK mid-market firm’s second fund, which closed in July 2015 at £250m.