H.I.G. Capital Notizie
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H.I.G. Capital Acquires Synecore Limited and Meesons Futures Limited to Create the Andwis Group
LONDON – March 30, 2023 – H.I.G. Capital (“H.I.G.”), a leading global alternative asset investment firm with $55 billion of equity capital under management, is pleased to announce that one of its affiliates has acquired Synecore Limited (“Synecore”) and Meesons Futures Limited (“Meesons”). Synecore and Meesons will join forces with H.I.G.’s existing portfolio companies, CPS and Classic Lifts, to form the Andwis Group (the “Andwis” or the “Andwis Group”), a family of best-in-class technical services providers. The financial terms of the transactions have not been disclosed.
Synecore specialises in the delivery and maintenance of HVAC, electrical, air conditioning, and refrigeration services to the hospitality, retail, leisure, and commercial sectors. Synecore, and its network of engineers and suppliers, provides both maintenance and installation services, often supporting site rollout and refurbishment programs.
Founded in 1864, Meesons is a physical security and entrance control solutions provider for both critical national infrastructure and the data centre, corporate, and leisure sectors. Meesons, and its team of security experts, provide its clients with certified physical security systems, including portals, speed gates, revolving doors, turnstile, and hostile vehicle mitigation solutions.
In partnership with Synecore’s and Meeson’s management teams, H.I.G. aims to continue both companies’ impressive growth trajectories within the Andwis Group. Future acquisitions into Andwis are anticipated across both existing service lines of M&E and lifts, and through the addition of fire protection, access and security, and associated compliance services.
Jonathan Simpson-Dent, Chair of Andwis, said, “We are deeply committed to equipping our clients with safe, sustainable buildings that protect people and productivity. The creation of the Andwis Group marks a major milestone as we bring four industry-leading and complementary specialist networks together with an exciting pipeline of acquisition opportunities. This is the start of an exciting journey as we continue to build and expand the Andwis Group into a truly unique multi-service offering, delivered through direct best-in-class networks.”
“The strong growth and reputations of these businesses are coming together to create a leading provider of critical technical building services. The Andwis Group will be able to provide a competitive offering in a sector that has significant long-term growth opportunities driven by decarbonisation, changing regulation, new technology, and ageing building stock,” said John Harper, Managing Director of H.I.G.
Andwis is a leading UK provider of technical building services. Andwis is centred around its guiding principles of integrity, dynamism and partnership under its promise of Expertise, built in. Andwis will continue to invest in industry-leading businesses as it broadens its service line and geographic presence. For more details see https://www.andwis.com/.
Synecore is a leading provider of specialist mechanical and electrical servicing and maintenance, headquartered in Kent. The business has developed a strong reputation for high-quality service provision in its market, serving multi-site clients across hospitality and leisure. For more details see https://www.synecore.co.uk/.
Meesons is a physical security solution provider for the critical national infrastructure, data centre, corporate and leisure sectors. The business delivers hundreds of projects each year securing buildings and people in highly demanding settings. For more details see https://www.meesons.com/.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $55 billion of equity capital under management.* Based in Miami, and with European offices in London, Hamburg, Madrid, Milan, Paris, and U.S. and Latin American offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, Atlanta, Bogotá, Rio de Janeiro, and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.