Manufacturing industry supplier eyes acquisitions with private equity deal

Grimsby-based maintenance, repair and operations firm MRO+ Solutions has landed a funding boost in the shape of investment from NVM Private Equity.

NVM is backing the management team led by Matt Cattell who has overseen a 50% expansion in revenue since joining four years ago.

MRO Solutions is a distributor of critical products to a range of process and manufacturing industries. The group operates nationally through its wholly-owned subsidiaries, MJ Wilson, also based in Grimsby, and Helix Tools of Leeds.

MJ Wilson is a distributor of process instrumentation and control products servicing the energy, power generation and process industries. Helix provides technical support to a range of precision manufacturing clients supporting their tooling requirements.

As part of the investment, funding for acquisitions has been reserved to enable the group to accelerate the M&A strategy post-investment.

The deal has been led by Charlie Pidgeon, Oliver Wildig and Mauro Biagioni, taking NVM’s total deal count to nine deals in less than eighteen months, with this, its second new investment in two months.

On completion, Kevin Appleton will be joining the board as non-executive chairman. Appleton has significant experience in the distribution sector and extensive M&A expertise.

Cattell, managing director of MRO+ Solutions, said: “We are thrilled to join forces with NVM Private Equity. This partnership will enable us to further strengthen our position in the market and capitalise on new opportunities, through organic and acquisitive growth.

“With NVM’s support, we are confident that we can continue to deliver exceptional value to our customers and team members, driving long-term success for our business.”

Pidgeon, investment partner at NVM, said: “We have been highly impressed with the quality of the senior leadership team, the growth they have achieved and their vision for the future. We look forward to fully supporting the team in achieving their organic growth plans and pursuing acquisitions to consolidate what is a highly fragmented market.”

Advisors on the deal included Womble Bond Dickinson, Fairgrove, BDO, Continuum, Lockton, Deloitte, Arrowpoint Advisory and Browne Jacobson.