Clearwater International Ireland advises on the MBO of H&MV engineering
Clearwater International Ireland has advised H&MV Engineering (“H&MV”) and the management team, led by P.J. Flanagan, CEO, and John Stokes, Executive Director, on the buyout of the company in a strategic partnership with Novus Technical Services, an international oil and gas services group led by Hugh O’Donnell. The deal sees MML Growth Capital Partners Ireland Limited (“MML”) successfully exit its investment after supporting the initial MBO of the company back in October 2015.
H&MV was established in 1997 and is one of the leading specialist high voltage electrical contracting and consulting companies internationally. H&MV provides comprehensive turnkey services to a wide range of industries for design, installation, commissioning and maintenance of high-voltage transmission and distribution networks. In recent years, the company has successfully expanded into a number of international, high growth markets including the Nordics, the Netherlands, South Africa and the Middle East.
Since the MBO in 2015, H&MV has grown significantly and achieved a number of key milestones including its international expansion, winning landmark contracts and trebling employee numbers to over 230. Over that period, revenue has grown from less than €8m to in excess of €34m for the year ended April 2018.
H&MV is well positioned to continue its ambitious international growth plans under the new ownership structure following this period of sustained success.