Investec Growth & Acquisition Finance has supported the successful acquisition of EnServe Group by Rubicon Partners and Grovepoint Capital.
EnServe is a leading provider of infrastructure support services to the utilities sector, operating principally in the UK. It was acquired during December 2010 by Cinven and today comprises three divisions: Electricity, Utility Services and Analytics. The Group works in partnership with a large number of commercial, public and utility organisations, operating from more than 30 locations across the UK and employing 1,650people.
EnServe had a group turnover of circa GBP200 million in the year ending 30 April 2015. Its new owners acquired it from private equity firm Cinven for an undisclosed sum.
Investec, in conjunction with HSBC Leveraged Finance, provided a flexible senior acquisition finance package for the transaction, with an additional credit line to fund working capital requirements.
Shaun Mullin of Investec Growth & Acquisition Finance says: “Investec are extremely pleased to be continuing their support of the EnServe group through this transition of ownership and additionally they are very pleased to be working once again with Rubicon Partners and Grovepoint Capital, who they consider to be highly experienced practitioners”.
