Leading advisors from the Yorkshire region have delivered a deal which sees HG Group, the leading independent control systems integrator in the UK, acquired by Bilfinger Berger Industrial Services Group (BIS) for a substantial, undisclosed sum.
Headquartered in Chesterfield, but with offices across the UK, HG Group delivers turn-key control system solutions to blue-chip customers across a range of demanding industrial sectors including energy & nuclear, metals & manufacturing and oil & gas. With turnover in the region of £10m and in excess of 80 employees, the business has seen significant recent growth in particular from several large overseas contracts.
BIS, a division of the listed German engineering and services group Bilfinger, is a €3 billion revenue global provider of industrial services with a particular focus on the process and energy production industries.
A team led by Don Gray and Kevin Davies from multi-award winning firm BHP Corporate Finance acted as lead advisors to the exiting shareholders Graham Stevens and David Henery. Chris Sellars and Andrew Fielder from law firm Banner Jones provided legal advice.
HG Group shareholder and director David Henery commented: “We are delighted with the outcome, as it represents a great deal for all parties involved. Our intention throughout this process was to find the right partner for HG Group to enable it to leverage the huge potential that exists in our highly skilled staff. BHP Corporate Finance identified Bilfinger as a strong strategic fit and the ideal partner for HG Group moving forward. With access to the resources and networks of BIS and its wider group, we are sure the business will go from strength to strength.”
Don Gray, Partner at BHP Corporate Finance, commented: “HG Group is a great example of a business that has developed an outstanding reputation in its chosen markets and we are very pleased to have worked with Graham and Dave to deliver such a successful outcome. The transaction with BIS is further evidence of the continuing trend we are seeing of overseas acquirors looking to invest in high quality UK businesses.”
Chris Sellars, Director at Banner Jones, commented: “We are delighted to have assisted this local Company in achieving its long term aims of securing its position in this highly specialised field”.
