A subsidiary of H.I.G. Capital has acquired Avove Limited. Avove is a leading British company in infrastructure services and engineering, specialising in regulated water and electricity markets. The financial details of this transaction have not been publicly disclosed.
Avove provides comprehensive planning and construction solutions for utility companies in the water, wastewater, and energy sectors. The company operates nationwide across the UK and Northern Ireland. It has built a reputation for high service quality, a position as an employer of choice, and for generating social value in the communities in which it operates.
Strategic Direction and Market Outlook
The company is expected to benefit from significant anticipated investments in UK infrastructure. This particularly concerns the AMP8 water investment cycle. This cycle involves the renewal of older facilities, the reduction of environmental pollution, and the strengthening of resilience against the effects of climate change. Avove's existing management team will reinvest in the company under the new ownership and retain their positions to lead its further development. A key role is played by an M&A strategy aimed at expanding the service offering to more comprehensively meet customer needs.
Mark Perkins, CEO of Avove, emphasised that the team has focused on innovation, quality, and safety. Collaboration with H.I.G. will further improve outcomes for the communities served and drive growth in a changing market.
Adam Taylor, Managing Director in H.I.G.'s London office, stated that the UK infrastructure markets are expected to show significant growth in the coming years. The goal is to optimise capacity, efficiency, and resilience. He expressed pleasure about the collaboration with the Avove management team, as their project experience in regulated utility markets correlates with H.I.G.'s knowledge of the UK services sector and expertise in acquisition-driven growth.
