AAC Capital Partners, a Northern European mid-market buy-out firm, has agreed to acquire a majority stake in NSL Services Group, a UK outsourced services provider, from 3i.
The enterprise value of the transaction is GBP120m (EUR143m), and the existing management team, led by chief executive Mark Underwood, will reinvest in the transaction.
Paul Southwell, managing partner at AAC Capital Partners, says: “NSL is a highly regarded and well-established player in its markets. The company owes its success to outstanding customer service, efficiency and an unrivalled range of services.
“NSL has a strong management team who will be investing alongside us. They have the experience and the strategic vision to broaden the range of services that NSL offers its customers. We look forward to working with them.”
Underwood adds: “This is an exciting time for everyone associated with the business as it embarks on its next phase of growth. There is a significant opportunity to expand the business over the next few years and AAC’s experience and sector knowledge will be extremely valuable in driving our expansion, and assisting our focus on further improvements to our service for existing clients.”