Key Takeaways
- H.I.G. Capital, a global alternative investment firm with $75 billion of capital under management, has acquired Avove Limited, a UK infrastructure services and engineering company.
- Avove provides end-to-end design and build solutions to utilities in the water, wastewater, and power sectors across Great Britain and Northern Ireland.
- Financial terms of the transaction were not disclosed.
- Avove is positioned to benefit from the AMP8 water investment cycle, which covers renewing aging assets, reducing pollution incidents, and strengthening climate resilience.
- Avove’s management team will reinvest alongside H.I.G. and remain in place, supported by a planned M&A strategy to broaden the company’s service offerings.
H.I.G. Capital Adds UK Water Infrastructure Company
H.I.G. Capital has completed the acquisition of Avove Limited, a UK infrastructure services and engineering company focused on the regulated water and power markets, through one of its affiliates. Avove provides end-to-end design and build solutions to utilities in the water, wastewater, and power sectors, operating across Great Britain and Northern Ireland. The financial terms of the transaction were not disclosed.
Positioned for the UK’s AMP8 Water Investment Cycle
Avove is set to benefit from significant forecast investment in UK infrastructure under the AMP8 water investment cycle, which includes renewing aging assets, reducing pollution incidents, and strengthening resilience to climate change. Avove’s management team will reinvest alongside H.I.G. Capital and remain in place to lead the company’s continued development, supported by an acquisition strategy aimed at broadening its service offerings.
Executives on the Avove Acquisition
“We are proud of what the Avove team has achieved to date by focusing on innovation, quality, and safety, supported by an engaged and passionate workforce,” said Mark Perkins, CEO of Avove. “In partnership with H.I.G., we will continue to improve outcomes for the communities we serve while pursuing growth in a market undergoing rapid transformation.”
“UK infrastructure markets are set for significant growth in the coming years with capacity, efficiency, and resilience targeted for improvement,” said Adam Taylor, Managing Director in H.I.G. Capital’s London office. “We are excited to partner with Avove’s highly experienced management team, combining the company’s strong track record of delivery to regulated utility markets with H.I.G.’s deep UK services sector knowledge and acquisitive-growth expertise.”
