HIG Capital completes acquisition of UK engineering firm Phoenix ME
- Founder and chief executive Lee Compton reinvests in the business alongside HIG Capital
- Jim Arnold joins as chairman to support the company’s next growth phase
- Deal positions Phoenix ME to expand across Europe through organic growth and acquisitions
HIG Capital has completed the acquisition of Phoenix ME, a UK-based provider of mechanical and electrical engineering services, through one of its affiliates.
Phoenix ME, which the company describes as a leading provider of integrated mechanical and electrical engineering services, serves the data centre, life sciences, infrastructure and commercial end markets. The business has worked on several of London’s highest-profile infrastructure developments with exposure to the data centre and life sciences sectors, according to the company. Founded in 1931, Phoenix ME is headquartered in London and operates across the UK and mainland Europe.
Lee Compton, Phoenix ME’s founder and chief executive, will reinvest in the business alongside HIG Capital, and the company’s existing management team will remain in place. Jim Arnold will join as chairman, working with management and HIG Capital on the company’s next phase of growth.
“Phoenix’s end markets will enjoy rapid growth over the coming years,” said John Harper, managing director of HIG Capital in London, in a statement.
The company plans to expand its presence across Europe and broaden its service offering through organic growth and acquisitions, according to the statement.
Financial terms of the transaction were not disclosed.
Editor’s note: This news brief was produced with the assistance of artificial intelligence.
