NVM Private Equity (“NVM”) has completed its second investment in two months with the backing of a specialist Maintenance, Repair and Operations (MRO) business, MRO+ Solutions Limited (“MRO Solutions”).
NVM are backing the incumbent team led by Matt Cattell who has overseen a 50% expansion in revenue since joining four years ago.
MRO Solutions is a highly technical, value-added distributor of critical products to a range of process and manufacturing industries. The Group operates nationally through its wholly owned subsidiaries, MJ Wilson and Helix Tools. MJ Wilson is a specialist value added distributor of process instrumentation and control products servicing the energy, power generation and process industries. Helix provides technical support to a range of precision manufacturing clients supporting their tooling requirements.
Technical advice is delivered by highly experienced engineers who fill the growing engineering skills gap within the end clients. The businesses have forged highly defensible positions as their engineers become deeply imbedded, effectively becoming an extension of the customer. The end markets are robust and through careful execution of their strategic plan, the team have significantly outperformed the market. This has been delivered purely organically through a close alignment to customers and evidenced through exceptional Net Promoter Scores, far exceeding the industry average.
The market is highly fragmented providing the backdrop for an attractive buy and build opportunity to supplement the organic growth plan. As part of the investment, funding for acquisitions has been reserved to enable the group to accelerate the M&A strategy post investment and consolidate the market.
The investment has been led by Charlie Pidgeon, Oliver Wildig and Mauro Biagioni, taking NVM’s total deal count to nine deals in less than eighteen months, with this, its second new investment in two months. On completion, Kevin Appleton will be joining the board as Non-Executive Chairman, Kevin has significant experience in the distribution sector and extensive M&A expertise.
Matt Cattell, Managing Director of MRO+ Solutions said “We are thrilled to join forces with NVM Private Equity. This partnership will enable us to further strengthen our position in the market and capitalise on new opportunities, through organic and acquisitive growth. With NVM’s support, we are confident that we can continue to deliver exceptional value to our customers and team members, driving long-term success for our business.”
Charlie Pidgeon Investment Partner of NVM said “We have been highly impressed with the quality of the senior leadership team, the growth they have achieved and their vision for the future. We look forward to fully supporting the team in achieving their organic growth plans and pursuing acquisitions to consolidate what is a highly fragmented market.”
Advisors
- NVM Lawyers – Womble Bond Dickinson
- Commercial Due Diligence – Fairgrove
- Financial Due Diligence – BDO
- Management Due Diligence – Continuum
- Insurance Due Diligence – Lockton
- Tax Structuring – Deloitte
- Vendor Corporate Finance – Arrowpoint Advisory
- Vendor Lawyers – Browne Jacobson
- Management Lawyers – Browne Jacobson
