The ownership of M Group Services is transitioning from PAI Partners to CVC Fund IX, signalling a significant shift in the company’s financial backing.
- Expected completion of the acquisition is set for September 2024, marking a new chapter for the utility services provider.
- Under PAI’s stewardship since 2018, M Group Services has seen substantial growth, doubling its revenue from £1bn to £2bn.
- The acquisition underscores M Group’s strategic position in a market propelled by structural trends like decarbonisation and technological advancements.
- Leadership from both CVC and M Group Services highlight a shared vision for continued growth and collaborative development.
The acquisition of M Group Services by CVC Fund IX from PAI Partners represents a pivotal moment in the company’s evolution. This transition is expected to reach completion by September 2024, with CVC providing substantial backing to further extend M Group’s influence and capabilities in the utility services sector.
Under the previous ownership of PAI Partners since 2018, M Group Services has significantly expanded its operations, evidenced by an impressive revenue growth from £1bn to over £2bn. This growth trajectory was facilitated by a strategic acquisition spree, involving 14 key transactions which have solidified its position as a leader in the sector.
CVC’s managing partner, Dominic Murphy, articulates the acquisition as an endorsement of M Group Services’ market prominence, which thrives on structural trends associated with ageing infrastructure, decarbonisation efforts, and technology transitions. Murphy stated, “M Group Services is a leader in an attractive market growing on the back of structural trends …”
M Group Services CEO, Andrew Findlay, expressed gratitude to PAI Partners for their robust support during a transformative period and voiced optimism about the new partnership with CVC. Findlay remarked, “We would like to thank PAI Partners for their strong support … this is great for our people, our clients and their customers.”
This acquisition highlights not only a change in ownership but also a reinforced strategic direction for M Group Services, leveraging CVC’s resources and expertise to build upon their already solid foundation.
The acquisition of M Group Services by CVC Fund IX is poised to enhance its growth and operational success in the ever-evolving utility sector.
