Quinn provides Management Due Diligence services as H.I.G. Capital Acquires CLC Group Limited
With Management Due Diligence support from The Quinn Partnership, H.I.G. Capital, LLC (“H.I.G.”), a leading global alternative investment firm with $56 billion of equity capital under management, has announced that one of its affiliates has acquired CLC Group Limited (“CLC” or the “Company”), a leading UK provider of property and asset refurbishment, from its owner, the Armitage Family Trust. The Armitage Family Trust and CLC management will reinvest in the Company alongside H.I.G. The financial terms of the transaction have not been disclosed.
CLC provides refurbishment, electrical, and fire protection services to clients in the social housing, local government, defence, hospitality, and utilities end-markets. Operating 15 branches across the UK, the business has developed an exceptionally strong reputation for service delivery and delivered unbroken organic growth for over two decades.
CLC’s existing management team will remain to drive the Company’s future development. Decarbonisation efforts, increasing property compliance regulations, and ageing UK housing stock are all beneficial factors for the Company’s ability to broaden and deepen its service offering in the future.
Peter Armitage, Non-Executive Chair of CLC, remarked: “We are proud of what CLC has achieved to date which has been built on delivering exceptional client service. We are delighted that H.I.G. has come on board to support the Company’s next phase of growth and help CLC take advantage of the growth opportunities in front of it.”
John Harper, Managing Director of H.I.G. in London, said: “The property refurbishment market is set for significant investment in the coming decade. We are excited to partner with CLC’s highly experienced management team to build on their success to date through further service and geographic expansion, as well as add-on acquisitions.”
Paul Quinn, Director of The Quinn Partnership, added: “As the Group moves to capitalise on developing and emerging market opportunities, the management team possess an impressive platform of operational and sector experience to support the company’s sustained growth.
“H.I.G. are an ideal partner to support the development of the Group’s expanding geographical presence across the UK and in extending its services to meet existing and increasing housing needs into the future.”
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