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03/2023

Andwis Group acquired by HIG CAPITAL

UNITED KINGDOM Facility Management / Maintenance EV 100M - 350M EUR

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.

Andwis Group, which reported an EBITDA margin of in 2023, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Business Services sector (11.4x).

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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

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2023
2022

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REFERENCES

Valuation range: EV 100M - 350M EUR

Revenue range: 100M - 200M EUR

EBITDA range: 5M - 25M EUR

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

Acquirer: hig capital