Heligan advises on sale of infrastructure services company’s sale to PE backed Lucion Group
Birmingham’s Heligan Corporate Finance has advised infrastructure services business Midland Survey (MSL) on its multimillion-pound sale to private equity-backed Lucion Group.
MSL is an established provider of modern surveying services, originally founded in 1998, it has grown its geographical presence to five sites across the UK. The business has shown substantial growth across its utility mapping, CCTV and repairs and its land and measured building survey services.
Lucion Services provides accredited and certified scientific hazardous materials testing, inspection and environmental management solutions, operating with teams and offices across the UK including state-of-the-art laboratories and head offices in Gateshead.
The acquisition, supported by Palatine Private Equity and HSBC, is the fourth acquisition into the Lucion Group in the last 12 months, highlighting steady growth in its inspection, assessment and advisory service lines.
Managing director of MSL, Dave Johnson, said: “The deal provides an opportunity to offer our collective clients a wider service offering and we are looking forward to a bright future as part of the Lucion Group, one that will be beneficial to all our clients. Thank you to the advisers and in particular Heligan Group who supported us on this transaction.”
Colin Strevens, partner at Heligan Group, said: “it’s fantastic to see MSL passing into the hands of a larger complimentary group that will support the business to grow for many years to come. It was a pleasure acting for the shareholders with Heligan having identified a buyer and leading the transaction on their behalf. This deal proves that resilient local businesses remain attractive despite well documented economic and geo-political headwinds.”
Advisors:
Heligan Group (Corporate Finance) – MSL
Wright Hassall (Corporate Legal) – MSL
LDP Luckmans (Accounting and Tax) – MSL
Addleshaws (Corporate Legal) – Lucion
BDO (Financial Due Diligence) – Lucion
