Private equity firm CVC Capital Partners, which recently went public in Amsterdam, is currently in advanced negotiations to acquire M Group, one of the largest infrastructure services providers in Britain. Sources have revealed that CVC has emerged as the sole remaining bidder, beating out competitors such as Apollo Global Management. The deal is expected to be finalized within the next few weeks.
The exact price that CVC will pay for M Group is still undisclosed, but previous reports have estimated its value at approximately £1.5bn. According to the company’s website, M Group has a workforce of 11,000 employees and generates an annual turnover of £2bn. It offers critical services in various industries including water, telecoms, energy, and transport. Since 2018, M Group has been majority-owned by PAI Partners, another private equity firm.
The sale process is being advised by investment bankers at Citi, who are working with PAI on the transaction. This potential acquisition is part of a recent wave of mergers and acquisitions in the infrastructure sector.
Representatives from CVC declined to comment on the matter, while PAI could not be reached for a statement. In other business news, UK public sector debt has reached 99.8% of GDP, and retail sales have seen an increase due to favorable weather conditions. Additionally, Microsoft has regained its position as the world’s most valuable company.