PE-backed group to embark on M&A growth drive following double takeover
Wed, 12 Apr 2023 | BUSINESS SALE
Private equity firm HIG Capital has acquired two technical building services businesses and will use the double acquisition to create a new group. Meesons Futures Ltd and Synecore Ltd will be merged with existing HIG portfolio firms CPS and Classic Lifts to form a group of technical services providers: Andwis Group.
Andwis is set to grow through future M&A activity across the mechanical and electrical (M&E) and lifts service lines, with acquisitions expected in fire protection, compliance services and access and security.
Meesons, which was formed in 1864 and is based in Skipton, is a provider of physical security and entrance control systems for critical national infrastructure, as well as clients in the corporate, data centre and leisure sectors. Synecore is based in Sittingbourne and provides electrical, air conditioning, refrigeration and HVAC services to clients across commercial, retail, hospitality and leisure.
Andwis chair Jonathan Simpson-Dent said: "We are deeply committed to equipping our clients with safe, sustainable buildings that protect people and productivity. The creation of the Andwis Group marks a major milestone as we bring four industry-leading and complementary specialist networks together with an exciting pipeline of acquisition opportunities.”
"This is the start of an exciting journey as we continue to build and expand the Andwis Group into a truly unique multi-service offering, delivered through direct best-in-class networks."
HIG Capital managing director John Harper added: "The strong growth and reputations of these businesses are coming together to create a leading provider of critical technical building services. The Andwis Group will be able to provide a competitive offering in a sector that has significant long-term growth opportunities driven by decarbonisation, changing regulation, new technology, and ageing building stock."
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