Wednesday, May 31, 2023

H.I.G. Capital Buys Synecore Limited & Meesons Futures Limited To Create The Andwis Group

By ET Bureau - March 31, 2023 3 Mins Read

H.I.G. Capital Buys Synecore Limited & Meesons Futures Limited To Create The Andwis Group

H.I.G. Capital (“H.I.G.”), a leading global alternative asset investment firm with $55 billion of equity capital under management, is pleased to announce that one of its affiliates has acquired Synecore Limited (“Synecore”) and Meesons Futures Limited (“Meesons”). Synecore and Meesons will join forces with H.I.G.’s existing portfolio companies, CPS and Classic Lifts, to form the Andwis Group (the “Andwis” or the “Andwis Group”), a family of best-in-class technical services providers. The financial terms of the transactions have not been disclosed.

Synecore specialises in the delivery and maintenance of HVAC, electrical, air conditioning, and refrigeration services to the hospitality, retail, leisure, and commercial sectors. Synecore, and its network of engineers and suppliers, provides both maintenance and installation services, often supporting site rollout and refurbishment programs.

Founded in 1864, Meesons is a physical security and entrance control solutions provider for both critical national infrastructure and the data centre, corporate, and leisure sectors. Meesons, and its team of security experts, provide its clients with certified physical security systems, including portals, speed gates, revolving doors, turnstile, and hostile vehicle mitigation solutions.

In partnership with Synecore’s and Meeson’s management teams, H.I.G. aims to continue both companies’ impressive growth trajectories within the Andwis Group. Future acquisitions into Andwis are anticipated across both existing service lines of M&E and lifts, and through the addition of fire protection, access and security, and associated compliance services.

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Jonathan Simpson-Dent, Chair of Andwis, said, “We are deeply committed to equipping our clients with safe, sustainable buildings that protect people and productivity. The creation of the Andwis Group marks a major milestone as we bring four industry-leading and complementary specialist networks together with an exciting pipeline of acquisition opportunities. This is the start of an exciting journey as we continue to build and expand the Andwis Group into a truly unique multi-service offering, delivered through direct best-in-class networks.”

“The strong growth and reputations of these businesses are coming together to create a leading provider of critical technical building services. The Andwis Group will be able to provide a competitive offering in a sector that has significant long-term growth opportunities driven by decarbonisation, changing regulation, new technology, and ageing building stock,” said John Harper, Managing Director of H.I.G.

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