CVC’s Fund IX is taking over M Group Services from PAI Partners. The transaction is expected to complete by September 2024.
M Group Services has grown under PAI’s ownership from £1bn revenues in 2018 to more than £2bn today, helped by a series of 14 acquisitions.
CVC managing partner Dominic Murphy 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.”
M Group Services chief executive Andrew Findlay 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.”
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