Fourth acquisition in 12 months for PE backed environmental services company
A surveying services provider has been sold in a multi-million pound deal.
Midland Survey Limited (MSL) has been acquired by private-equity backed environmental services company Lucion Services, supported by Palatine Private Equity and HSBC.
Warwickshire law firm Wright Hassall was instructed to complete the corporate legals for the founder shareholders of MSL, which has five UK offices across the country, including a Yorkshire office at Longwood Hall, Pudsey, Leeds.
The company provides specialist surveying services – including measured building surveys, underground utility surveys, topographical surveys, 3D modelling and CCTV drainage surveys – to sectors including infrastructure, commercial, residential and the public sector.
David Johnson, managing director at MSL, said: “We are extremely excited to be joining Lucion Group and thank Wright Hassall for their support and advice on this deal.
“We are looking forward to a bright future as part of the Lucion Group, one that will be beneficial to all our clients.”
Wright Hassall partner and head of Corporate Team, Steve Halkett, who advised on the deal, said: “Since forming in 1988, MSL have grown their reputation as trusted suppliers of skilled surveying experts nationwide.
“I am really pleased Wright Hassall has been able to assist in the next step of their journey.”
MSL is the fourth acquisition into Lucion Group in the last 12 months, highlighting the growth in its building surveying and assessment service lines.
Lucion Group CEO Phil Rozier, said: “Having completed 12 acquisitions in total so far, Lucion has created the true environmental services platform that it set out to build.
“Building a business that offers multiple complimentary services, to our existing and enhanced client base, truly does allow us to protect people and planet every day.”
Heligan Group (Corporate Finance) and LDP Luckmans (Accounting and Tax) also acted for the founder shareholders of MSL in the deal, while Addleshaws (Corporate Legal) and BDO (Financial Due Diligence) represented Lucion.
