New private equity owner for M Group
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
Share this article
Latest Building and Construction Businesses for Sale
Grounds Maintenance Provider
South East, UK
The company offers a wide range of gardening services, including tree surgery, fencing and landscaping, garden and grounds maintenance, as well as the resale of plants and materials, and sundries. Their diverse service offering caters to both B2C and...
Glazing and Home Improvement
North West, UK
The company specialises in double glazing, door supply and installation, and single-storey extensions, catering primarily to the private sector and domestic customers in the Northwest region. Founded in the 1970s, this glazing specialist boasts a tra...
National Electrical Contractors
UK Wide
National electrical contractors which has been operated by this client since 2014 and is now brought to market due to other business interests, following over 20 years in the industry.