Wed, 30 Oct 2024 | BUSINESS SALE
Private equity owned infrastructure specialists M Group Services has bought engineers BGEN to help the UK transition to net-zero.
Stevenage-based BGEN is a technical engineering solutions provider offering specialist Mechanical, Electrical, Instrumentation, Control, and Automation (MEICA) capabilities. These help clients build new assets and optimise existing ones which play a crucial role in reducing carbon footprints to meet net-zero targets.
Through its nationwide network of offices and almost 1,500 employees, BGEN provides its multidisciplinary offering to a range of clients including National Grid, Thames Water, Scottish Water, and Anglian Water, which also have long-term partnerships with M Group Services.
According to its most recent financial results to April 30, 2024 this broad sector approach as well as significant wins in the defence and nuclear sectors helped it post a turnover of £225.5 million, up from £187 million the previous year.
M Group Services said the acquisition would enable it to rapidly advance its ‘highly sought-after’ technical engineering solutions offering in its existing core markets in the energy, water, telecom and transport sectors, as well as expanding into new markets served by BGEN.
It said it was committed to investing in BGEN, focusing on the growth and development of its workforce, training programs, and skill enhancement to further expand its platform capabilities.
Andrew Findlay, M Group Services’ Chief Executive, said: “BGEN is a business with a long trading heritage and an excellent reputation and culture that aligns with our own. In line with our strategy, the acquisition of BGEN significantly enhances the technical engineering capability of M Group Services, deepening our ability to provide expert solutions for our existing clients and broad range of new clients, for today and in the future.”
He added that the deal also left it better placed to support the transition to net-zero.
Robin Whitehead, Chief Executive of BGEN, added: “Joining M Group Services represents the most significant step in our trading history to date and an exciting opportunity for our people, clients and partners alike. Our joint expertise will provide a wealth of specialist engineering services across multiple sectors, help us to deliver even more effectively for our clients and achieve our own growth ambitions.”
CVC acquired M Group Services from PAI Partners back in June this year.
Find out more about private equity and bolt-on deals in our report
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