Clearwater International advises Skanstec on its sale to H&MV Engineering
Clearwater International has advised Skanstec Group (Skanstec), a European specialist engineering company focused on delivering key infrastructure projects in the energy and telecommunications sector, on its sale to H&MV Engineering (H&MV), a leading mission-critical specialist in high voltage electrical engineering and design. The Skanstec shareholders and management team are remaining in the business and will be reinvesting a material portion of their proceeds into the enlarged H&MV / Skanstec group (the “Group”). The combination of H&MV and Skanstec creates a leading global provider of specialist design, engineering, and construction services with revenues of c. €400m and close to 1,000 employees.
Skanstec is a specialist engineering company in the energy and telecommunications sector, that designs, builds, and commissions critical infrastructure in power grids and communication networks. By operating at the convergence of Digital Energy and Connectivity, the business provides both specialist electrical engineering and telecommunications services to their blue-chip, multinational, private and utility client base across 7 European countries. The Skanstec team have an outstanding reputation in the industry and a proven track record in providing a single-source solution to their clients. Skanstec is well recognised for its high standard of work and proven ability to take ownership of projects, interface with key stakeholders, and manage and deliver the full life cycle of major infrastructure projects in both the energy and telecommunication sectors.
H&MV, founded in 1997, provides comprehensive high-voltage turnkey services across design, installation, commissioning and maintenance, from its bases and locations throughout Europe. The company provides specialist electrical engineering services into the energy market across a blue-chip client base that spans three high-growth sectors - data centres, renewables and utilities.
The acquisition of Skanstec will enable H&MV to provide an enhanced service offering to their clients and expand their areas of expertise including mission-critical power and telecommunications engineering services. The acquisition also strengthens the H&MV team significantly as well as accelerating expansion across Europe. The Group now has extensive coverage across the EMEA region encompassing 22 offices.
Following successful investment by Exponent in 2022, H&MV has grown significantly having recently opened a new global headquarters in Castletroy, Co. Limerick and announced the creation of 700 additional jobs. In recent years, it has also achieved a number of key milestones including the trebling of revenue, expanding geographically, and winning landmark contracts with blue-chip multinational clients in the data centre and renewable sectors.
The combined H&MV and Skanstec group is well positioned to accelerate ambitious growth plans and become a true global leading specialist in mission-critical infrastructure design and engineering services.