A new chapter is set to begin for M Group Services, previously known as Morrison Utility Services, as current owner PAI Partners prepares to sell the business to CVC Fund IX. The transaction is expected to be finalized this autumn. Reports Construction Journal
CVC has expressed its intention to collaborate closely with M Group Services’ leadership team to boost organic growth, supplemented by further strategic acquisitions.
During PAI’s tenure, M Group experienced significant growth, with revenues climbing from £1bn in 2018 to over £2bn currently. The company’s order book has also seen a twofold increase, while efforts have been made to expand its service offerings and enhance its market position.
As part of this expansion strategy, the group has incorporated 14 additional businesses since 2018 through various acquisitions.
Andrew Findlay, chief executive of M Group Services, expressed gratitude for the outgoing owner’s contributions, stating: “We would like to thank PAI Partners for their strong support and commitment to our growth since 2018.”
“We are delighted that CVC has decided to support our clear and ambitious plan to continue to grow and deliver at pace, built on our solid market-leading foundations. We look forward to working in partnership with CVC to deliver our future plans. This is great for our people, our clients and their customers.”
