New private equity owner for M Group

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

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