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Mark Dixon established the Promanex Group in 1996 and embarked on a strategy to create a robust and valued business model.
Provider of industrial support services to the petrochemical, power generation, nuclear and manufacturing industries.
Promanex was sold to Costain for consideration £18.8m (including debt) representing 1.6 times money.
To take advantage of the forecast market growth by developing its services and targeting key businesses for acquisition.
At that time the group consisted of Promanex and Thermal Energy Construction which provided Total Facilities Management (TFM) services to the power generation and general industrial sectors.
In 2002, Promanex acquired Jefco, specialist provider of cleaning and civil engineering services. In 2007, NVM invested £ 5m to support a secondary buy-out of Promanex and provided additional working capital to allow the management team to take advantage of new market opportunities.
Shortly after the buy-out, NVM invested a further £3.5m to fund a rebranding exercise to unite Jefco, Promanex and Thermal Energy Construction under the one banner — Promanex Group. the group now offers a range of construction, maintenance, TFM, environmental, civial and industrial services to the petrochemical, power generation, nuclear and manufacturing industries.
In 2011, Promanex was successfully sold to Costain, one of the UK’s leading engineering solutions providers.
Mark R Dixon, CEO of Promanex Group