H&MV Engineering

H&MV Engineering is a leading provider of specialist high voltage engineering services for renewable, data centre, manufacturing and pharmaceutical projects. H&MV Engineering was established in 1997 as a specialist high voltage electric services business. The company expanded to focus on data centres, renewables and large infrastructure assets. H&MV Engineering’s founder was seeking an exit and the management team were seeking a partner to support a management buyout from the original founder and also support an international expansion. MML Ireland was introduced to the management team as an alternative to a trade sale. MML Ireland facilitated an exit for the founding shareholder and invested alongside MD, PJ Flanagan, and Operations Director, John Stokes - who both reinvested materially - and created a significant equity pot for the wider management team. During our partnership with PJ and John, the business grew revenue by c. 425%, headcount from c. 60 to c. 230, and expanded into Norway, Sweden, the Netherlands and South Africa. MML Ireland supported H&MV Engineering’s international expansion and transition from a subcontractor to a prime contractor. The finance and reporting function was enhanced and the board strengthened. In September 2018, MML Ireland successfully sold its stake in the business to the management team, supported by Novus Technical Services, an international oil and gas services group.