CVC Capital Partners is set to acquire M Group Services, the UK's largest provider of essential infrastructure services. The acquisition, expected to be finalized in Q3 2024, will be executed through CVC's €26bn Fund IX, the largest private equity fund ever raised. CVC will take over from the current owner, PAI Partners.

M Group Services, established in 2016 by Morrison Utility Services, employs over 11,000 people and operates across 216 locations in the UK. The company partners with major providers in water, energy, telecom, and transport, offering recurring repair and maintenance services.

Under PAI Partners' ownership since 2018, M Group Services has seen its revenues double from £1bn to over £2bn. The order book has also doubled, and 14 complementary businesses have been integrated successfully.

CVC plans to work closely with M Group Services' management to accelerate organic growth and pursue strategic mergers and acquisitions. The focus will remain on safety, client-focused delivery, sustainability, and innovation.

Andrew Findlay, CEO of M Group Services, expressed gratitude to PAI Partners for their support and commitment to growth. He welcomed CVC's backing for their ambitious plans, emphasizing the positive impact on employees, clients, and customers.

Dominic Murphy, managing partner and co-head of the UK Team at CVC, highlighted M Group Services' leadership in a market driven by trends like ageing infrastructure, decarbonisation, and technology transitions. He expressed excitement about supporting the company's next growth phase.

Colm O’Sullivan, partner and head of the UK Team at PAI, praised M Group Services' transformation into the UK's leading provider of essential infrastructure services. He thanked the management team for their partnership and expressed confidence in the company's continued success.