Andwis Group acquired by HIG Capital
Context
On 30 March 2023, private equity sponsor H.I.G. Capital completed the simultaneous acquisitions of Synecore Limited and Meesons Futures Limited. The transactions serve as the foundational catalyst to establish Andwis Group, combining these newly acquired operations with H.I.G.’s existing portfolio companies, CPS and Classic Lifts, into an integrated UK technical building services platform. Led by Managing Director John Harper at H.I.G., the sponsor structured the platform to address structural tailwinds across the UK built environment, including statutory decarbonisation targets, regulatory tightening, technological upgrades, and aging property assets. By uniting mechanical and electrical (M&E) engineering with high-security physical access solutions, Andwis delivers critical maintenance and installation services across commercial and infrastructure facilities. The newly formed group operates under the leadership of Executive Chair Jonathan Simpson-Dent, tasked with integrating operations and driving commercial synergies across all four business units. Backed by H.I.G.'s institutional capital, Andwis is positioned to execute an active buy-and-build strategy, targeting bolt-on acquisitions in M&E, lift maintenance, fire protection, access control, and broader building compliance services to expand its national footprint.
The acquisition of Andwis Group is part of the growth strategy of HIG Capital, which already has several external growth operations under its belt, notably Berardi Bullonerie in 2022.
Andwis Group, which reported an EBITDA margin of [members only] in 2023, is valued in this transaction at an EV/EBITDA multiple of 10x–18x.
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Target
Operating across the hospitality, retail, leisure, and critical national infrastructure (CNI) sectors, Synecore Limited and Meesons Futures Limited provide specialized technical building services in the UK. Based in Kent, Synecore delivers mechanical and electrical (M&E) solutions, with a core focus on commercial HVAC and refrigeration (HVAC-R). Its field engineers provide planned and reactive maintenance alongside nationwide fit-out and rollout programs for enterprise clients. Operating alongside it, Meesons Futures leverages a track record dating back to 1864 to design and deploy certified physical security and entrance control systems. Its product suite spans security portals, speed gates, revolving doors, turnstiles, and hostile vehicle mitigation (HVM) solutions. Together, the two businesses combine environmental controls with perimeter and access security across high-consequence environments, completing hundreds of complex infrastructure projects annually.
Ent. Value
€100–350M
Equity Value
[members only]
Multiples
EV / Revenue
1x–3x
EV / EBITDA
10x–18x
EV / EBIT
[members only]
Historical Financials (EUR)
Other operations with HIG Capital
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 10/2025 | HIG CAPITAL | ADVANCED LOGISTICS FOR AEROSPACE (ALA) | ITALY | Industrial & Technical Distribution |
| 09/2025 | HIG CAPITAL | RENTOKIL INITIAL WORKWEAR FRANCE | FRANCE | Industrial Cleaning |
| 03/2025 | HIG CAPITAL | TIMETOACT GROUP | GERMANY | Consulting & Integration |
| 02/2025 | HIG CAPITAL | CONVERGE TECHNOLOGY SOLUTIONS | CANADA | Consulting & Integration |
| 03/2024 | HIG CAPITAL | STRADA | UNITED STATES | HR & Capital |
| 01/2024 | HIG CAPITAL | DX GROUP | UNITED KINGDOM | Road Freight |
| 02/2022 | HIG CAPITAL | BERARDI BULLONERIE | ITALY | Industrial & Technical Distribution |
| 04/2021 | HIG CAPITAL | INTERPATH | UNITED KINGDOM | Accounting & Audit |
| 07/2020 | HIG CAPITAL | PROJECT INFORMATICA | ITALY | Consulting & Integration |
| 01/2011 | HIG CAPITAL | LOOPING GROUP | FRANCE | Leisure Facilities |
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|---|---|---|---|---|
| 09/2023 | HORIZON CAPITAL | CHURCHES FIRE | UNITED KINGDOM | Security & Guarding |
| 08/2023 | GTCR | ADT COMMERCIAL | UNITED STATES | Security & Guarding |
| 01/2023 | VAUBAN INFRASTRUCTURE PARTNERS | PROXISERVE | FRANCE | HVAC |
| 12/2022 | WESTBRIDGE CAPITAL | ALPINE FIRE ENGINEERS | UNITED KINGDOM | Security & Guarding |
| 11/2022 | NVM PRIVATE EQUITY | INPROVA GROUP | UNITED KINGDOM | BPO & Outsourcing |
| 05/2022 | FSN CAPITAL | FIRESAFE | NORWAY | Security & Guarding |
| 04/2022 | AQUIRIAN | CYBEM MECHANICAL SERVICES | AUSTRALIA | Maintenance |
| 01/2022 | AMBIENTA | GROUPE CAP VERT | FRANCE | Landscaping |
| 01/2022 | API GROUP | CHUBB | UNITED KINGDOM | Security & Guarding |
| 11/2021 | COBEPA | GROUPE CLIMATER | FRANCE | HVAC |
REFERENCES
Valuation range: EV €100–350M
Revenue range: €100–200M
EBITDA range: €5–25M
EV/Revenue range: 1x - 3x
EV/EBITDA range: 10x - 18x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Andwis Group by HIG Capital are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: andwis group
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