Fri, 28 Jun 2024 | BUSINESS SALE
Infrastructure contractor M Group is set to continue with its organic and acquisitive growth strategy after being sold to a new private equity owner. Existing owner PAI Partners will sell the company to CVC Fund IX, with the deal expected to complete in the autumn.
M Group, formerly known as Morrison Utility Services, has seen six years of strong growth since being acquired by PAI Partners in 2018. Since then, the group’s revenues have increased from £1 billion to more than £2 billion.
Under PAI’s ownership, the group has completed 14 bolt-on acquisitions, doubled the size of its order book and sought to broaden its service offering, while moving up the value chain.
CVC says it will aim to work closely with M Group’s management team to accelerate its organic growth, complementing these efforts with ongoing strategic M&A activity.
Dominic Murphy, Managing Partner and Co-Head of the UK Team at CVC and Tim Gallico, Partner at CVC, commented: “M Group Services is a leader in an attractive market growing on the back of structural trends linked to ageing infrastructure, decarbonisation initiatives and technology transitions. We are delighted to support its management team in this exciting next phase of its growth and development.”
Andrew Findlay, chief executive of M Group Services, said: “We would like to thank PAI Partners for their strong support and commitment to our growth since 2018.”
“We are delighted that CVC has decided to support our clear and ambitious plan to continue to grow and deliver at pace, built on our solid market-leading foundations. We look forward to working in partnership with CVC to deliver our future plans. This is great for our people, our clients and their customers.”
Find out how companies can attract private equity backing to finance their acquisitive growth plans
An exciting opportunity to purchase a North East specialist contractor providing diamond drilling & sawing and fire protection services. The leading North East specialist drilling & sawing contractor, with an excellent reputation and an expert servic...
The business has been solving access problems for its industrial, commercial and domestic clients since 1977. The company hires and erects aluminium scaffold towers, bridging units, cantilever and facade scaffolding plus staircases. All scaffold towe...
Long-established Essex industrial roofing and cladding providers, the business is located in a prominent trading position.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.