H.I.G. Capital Acquires CPS Building Services Limited
H.I.G. Capital, LLC (“H.I.G.”), a leading global alternative investment firm with over $50 billion of equity capital under management, is pleased to announce that one of its affiliates has acquired CPS Building Services Limited (“CPS” or the “Company”), a leading UK provider of mechanical and electrical (M&E) services, from its founder. CPS’ current MD, Liam Connelly, will reinvest alongside H.I.G. The financial terms of the transaction have not been disclosed.
CPS provides installation and maintenance services across heating, cooling, ventilation and electrical systems to clients in the healthcare, life sciences, defence and education end-markets. The business has developed a strong reputation for high-quality service provision in its East Anglia home market. H.I.G., together with the management team, aims to continue CPS’ track record of organic growth with a particular focus on growing its electrical and maintenance offerings. The existing management team of CPS will remain in place.
H.I.G. intends to use CPS to form the core of a wider technical building services group by acquiring businesses active in fire protection, water and pumps, lifts maintenance, access and security, and associated compliance services. H.I.G. is partnering in this effort with Jonathan Simpson-Dent who will take the role of executive chairman of the group. Several active acquisition discussions are currently underway.
Liam Connelly remarked, “This is an exciting new chapter and testament to the commitment of the team to serving our clients and building the CPS business. Together with H.I.G., our joint vision will create a unique range of essential building services and expertise that will benefit our clients.”
Jonathan Simpson-Dent said, “Liam and his team have built a very impressive business at CPS, one that is focused on delivering quality service to its customers and has an unparalleled reputation in its local market. I’m excited to be working with Liam on the next phase of growth at CPS and driving expansion into associated service lines through M&A to create a one-stop shop for customers of technical building services.”
John Harper, Head of the H.I.G. Europe Lower Middle Market LBO team in London, said, “We are very excited to be partnering with Liam, Jonathan and the CPS team to build on the Company’s track-record of success. CPS’ reputation for exceptional service and high-quality delivery has stood out to us since our first meeting with the Company. We look forward to working with the Company to acquire additional technical building services offerings to complement CPS by leveraging H.I.G.’s deep M&A expertise.”
CPS is a dynamic and innovative M&E provider based in Cambridgeshire. The business is focused on delivering high quality installations and maintenance to customers centred around the values of innovation, teamwork and community. For more details see www.cpsbuildingservices.co.uk/.
About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with over $50 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Rio de Janeiro, São Paulo and Bogotá, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
10 Grosvenor Street
London W1K 4QB
P +44 (0) 207 318 5700
F +44 (0) 207 318 5749
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Future Markets Research Releases Commentary on NurExone Biologic Inc, An Emerging Leader in The Exosomal Treatment of Spinal Cord Injury3.10.2022 00:50:00 CEST | Press release
The Future Markets Research Tank (FMRT) is proud to release market commentary on NurExone Biologic (TSXV: NRX) (FSE: J90), an innovative biotechnology company poised to disrupt the spinal cord injury treatment industry and the exosome research landscape. To read the full report click here, or follow the link: https://bit.ly/3UW9TzC Key Insights: Each year, hundreds of thousands of people suffer from spinal cord injury. In addition, poor medical care and the lack of availability of effective treatments contribute to an increase in SCI patient mortality and disability. With rising numbers of workplace accidents, road accidents, and other medical conditions, the global SCI therapeutics market is anticipated to grow at a Compound annual growth rate (CAGR) of 17.84% to reach US$9.61 billion by 2028. There is a pressing need to create novel therapeutics to treat SCI due to the exorbitant cost of spinal surgery procedures and related healthcare costs. In parallel, the global exosome market is
IEEE Announces Decision on Its Standards-related Patent Policy30.9.2022 18:31:00 CEST | Press release
The IEEE Standards Association Board of Governors (IEEE SA BOG) took action to update the Patent Policy for IEEE standards development, which will go into effect 01 January 2023. These updates are intended to improve the clarity of IEEE’s standards processes related to patented technologies, while offering more options for stakeholders. In accordance with IEEE SA’s policies and procedures, the following resolutions were approved by consensus without objections by the full IEEE SA BOG. The IEEE SA BOG approved proposed updates to the IEEE SA Standards Board Bylaws, effective 01 January 2023. The IEEE SA BOG approved proposed updates to the IEEE SA Letter of Assurance (LOA) form, effective 01 January 2023. The IEEE SA BOG approved proposed updates to the patent policy FAQs, effective 01 January 2023. For the same IEEE standard, in instances where there is one Submitter of an Accepted LOA under the 2015 policy and another Submitter of an Accepted LOA under a subsequent policy or using the
Calling All Sake Aficionados! October 1st Is "Sake Day." Let's Kampai Together!! (Kampai Means "Toast" in Japanese)30.9.2022 16:00:00 CEST | Press release
There are countless events around the world celebrating the delights of wine and beer; October 1st is known as "Sake Day," where sake lovers worldwide gather, enjoy, and appreciate this delicious beverage. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220929005349/en/ toast (Photo: Business Wire) Sake Day was set as October 1st by the Japan Sake and Shochu Makers Association (JSS), the largest sake industry organization in Japan with members consisting of some 1,700 producers of sake, Honkaku Shochu, Awamori, and Hon-Mirin. This date was selected because October 1st marked the beginning of the new brewing season using freshly harvested rice crops. Events celebrating sake have been planned worldwide for Sake Day on October 1st. In Japan, the "Kampai! with Sake Week" event will run for ten days around Sake Day on October 1st, where JSS, prefectural sake organizations, breweries, restaurants, liquor stores, and sake lovers wil
Alkegen Launching Trio of New High Efficiency Filtration Products for Air, Liquid and Molecular Applications30.9.2022 14:30:00 CEST | Press release
Alkegen, a leading specialty materials platform that provides high performance materials used in advanced applications, announced they will be launching three new High Efficiency Filtration (HEF) products during their exhibition at the upcoming World Filtration Congress in San Diego, CA. These are the first new filtration products launched under the Alkegen brand name since the merger of Lydall and Unifrax last October. “This trio of HEF media – one for air, one for liquid, one for molecular applications – represents the first wave of advanced materials developed and released under our new Alkegen filtration product development team. These launches combine Lydall’s well-known filtration and manufacturing expertise with Unifrax’s proven, rapid innovation capabilities,” said Paul Vallis, President of the Filtration & Catalysis Group. “This is the first of many innovations we expect to deliver as our portfolio evolves to meet the continuous demand for ever-higher efficiency and reduced en
Nexign’s Article Included in TM Forum’s Benchmark Report30.9.2022 13:12:00 CEST | Press release
Nexign, a leading provider of BSS and digitalization solutions, announces that its article has been included in TM Forum’s benchmark report “Telco Revenue Growth: Taking It to the Next Level”. The report investigates the primary sectors and services affecting communications service providers (CSPs) and the areas of growth and decline. It draws on research collected from 33 of the world’s largest operators and serves as a source of valuable information about factors influencing successful telco-to-techco transformation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220930005236/en/ Nexign’s Article Included in TM Forum’s Benchmark Report (Photo: Business Wire) Nexign’s article “Harnessing Traditional and New Revenue Streams on Track to Maturity: Harmonization of the BSS Core” discusses key challenges faced by modern CSPs while shifting beyond traditional communications and exploring vertical markets. The authors state that o