Maven Capital Partners (Maven) has exited its investment in energy services specialist RMEC Group Limited (RMEC) through a trade sale to Aberdeen-based Centurion Group, generating a 2.26x blended return for investors in the process.
RMEC is a provider of managed solutions for the oil & gas intervention and decommissioning sectors. The business specialises in the manufacture, maintenance, repair, testing, recertification and rental of well services equipment for many of the industry’s largest service companies.
Maven originally led the management buy-in of RMEC in 2014 with the transaction funded by the Maven VCTs and through Maven’s co-investment network for professional clients, ‘Maven Investor Partners’. This saw Bryan Fagan joining the business as managing director (MD) while Ian McPherson was also appointed as chairman, having previously been MD at MS Industrial Services and Nessco; former portfolio companies which Maven had exited for a money multiple return of 3.5x and 3.7x respectively.
