CVC will acquire M Group Services, the UK’s largest provider of essential infrastructure services
The acquisition is set to be finalised in Q3 2024 and will be executed through the CVC €26bn Fund IX, the largest private equity fund ever raised.
CVC will take over the current owner, PAI Partners.
About M Group
Headquartered in the UK, M Group Services was established in 2016 by Morrison Utility Services.
The company employs more than 11,000 people and operates across 216 locations nationwide.
It partners with major providers in water, energy, telecom, and transport and offers recurring repair and maintenance services.
Growth under PAI Partners
Since PAI Partners acquired M Group Services, revenues have doubled from £1bn in 2018 to over £2bn today.
The order book has also doubled, and 14 complementary businesses have been successfully integrated.
Future plans for M Group
CVC plans to collaborate closely with M Group Services’ management to accelerate organic growth and pursue strategic M&A opportunities.
The company will continue to focus on maintaining its commitment to safety, client-focused delivery, sustainability, and innovation.
Perspectives on the acquisition
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.”
Dominic Murphy, managing partner and co-head of the UK Team at CVC and Tim Gallico, partner at CVC, said: “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.”
Colm O’Sullivan, partner & head of the UK Team at PAI, said: “We are delighted to have supported M Group Services over the last six years and to have guided its transformation into the leading provider of essential infrastructure services in the UK – a classic example of PAI investing in the Real Economy. Thank you to the Group’s management team for the excellent partnership. With a well-invested platform, extensive service offering and clear leadership in sustainability, M Group Services is well placed to continue its successful journey in the years ahead.”