BIS moves for HG Group
CONTROL systems company HG Group has been acquired by Bilfinger Berger Industrial Services Group (BIS) for an undisclosed sum.
Headquartered in Chesterfield, and with offices across the UK, HG Group delivers its services to customers across a range of industrial sectors including energy and nuclear, metals and manufacturing and oil and gas.
HG Group has annual turnover of around £10m and more than 80 employees. It has been boosted recently by a number of overseas contracts.
BIS, a division of the listed German engineering and services group Bilfinger, is a €3bn revenue global provider of industrial services with a particular focus on the process and energy production industries.
A team led by Don Gray and Kevin Davies from BHP Corporate Finance in Sheffield acted as lead advisors to the exiting shareholders Graham Stevens and David Henery at HG Group.
Chris Sellars and Andrew Fielder from law firm Banner Jones provided legal advice.
Mr Henery said: “We are delighted with the outcome, as it represents a great deal for all parties involved. Our intention throughout this process was to find the right partner for HG Group to enable it to leverage the huge potential that exists in our highly skilled staff.
“BHP Corporate Finance identified Bilfinger as a strong strategic fit and the ideal partner for HG Group moving forward. With access to the resources and networks of BIS and its wider group, we are sure the business will go from strength to strength.”
Mr Gray, partner at BHP Corporate Finance, added: “HG Group is a great example of a business that has developed an outstanding reputation in its chosen markets and we are very pleased to have worked with Graham and Dave to deliver such a successful outcome.
“The transaction with BIS is further evidence of the continuing trend we are seeing of overseas acquirors looking to invest in high quality UK businesses.”
