Technical building services businesses acquired by PE investor
An affiliate of H.I.G. Capital, a global alternative asset investment firm with $55bn worth of equity capital under management, has acquired Skipton-based Meesons Futures Limited and Synecore Limited.
Meesons and Synecore will join forces with H.I.G.’s existing portfolio companies, CPS and Classic Lifts, to form the Andwis Group, a family of best-in-class technical services providers.
The financial terms of the transactions have not been disclosed.
Founded in 1864, Meesons is a physical security and entrance control solutions provider for both critical national infrastructure and the data centre, corporate, and leisure sectors.
Meesons, and its team of security experts, provides clients with certified physical security systems, including portals, speed gates, revolving doors, turnstile, and hostile vehicle mitigation solutions.
Synecore specialises in the delivery and maintenance of HVAC, electrical, air conditioning, and refrigeration services to the hospitality, retail, leisure, and commercial sectors.
The Kent-based business, and its network of engineers and suppliers, provides both maintenance and installation services, often supporting site rollout and refurbishment programs.
In partnership with Synecore’s and Meeson’s management teams, H.I.G. aims to continue both companies’ growth trajectories within the Andwis Group.
Future acquisitions into Andwis are anticipated across both existing service lines of M&E and lifts, and through the addition of fire protection, access and security, and associated compliance services.
Jonathan Simpson-Dent, chair of Andwis, said, “We are deeply committed to equipping our clients with safe, sustainable buildings that protect people and productivity.
“The creation of the Andwis Group marks a major milestone as we bring four industry-leading and complementary specialist networks together with an exciting pipeline of acquisition opportunities.
“This is the start of an exciting journey as we continue to build and expand the Andwis Group into a truly unique multi-service offering, delivered through direct best-in-class networks.”
John Harper, managing director of H.I.G., added: “The strong growth and reputations of these businesses are coming together to create a leading provider of critical technical building services.
“The Andwis Group will be able to provide a competitive offering in a sector that has significant long-term growth opportunities driven by decarbonisation, changing regulation, new technology, and ageing building stock.”
Squire Patton Boggs advised H.I.G Capital on the deal, while Freeths advised Meesons Futures.
