Servelec Controls is pleased to confirm a successful management buy-out led by Managing Director Andrew Mills, backed by private equity firm Alcuin Capital Partners.
Backed by Alcuin, Andrew and the management team now lead the business in its future strategy, with the goal of transforming Servelec Controls into a robust, stand-alone entity and a market leader in Systems Integration. The ability to run the business as a standalone entity will enable Servelec Controls to be more agile in its approach to both its staff and its customers in critical industries which include oil and gas, power, infrastructure and defence.
The new chapter in the company’s development means Servelec Controls will no longer be part of the Servelec Group which was recently taken private from its previous Stock Exchange listing on the LSE main market. The combined, focused investment into the growth of the Servelec Controls business will provide it with the enhanced financial support and operational flexibility it needs in order to further execute the business’ strategy and better support its customers.
Alcuin Capital Partners is a private equity firm specialising in growing businesses in the UK. Graham Morrison of Alcuin Capital Partners confirmed the investor’s backing of Andrew and the Servelec Controls business: “We are delighted to complete our investment in Servelec Controls, a strong business underpinned by outstanding engineering expertise and with significant opportunities for growth. We look forward to working with Andrew and his team to build on these robust foundations in coming years.”
Andrew Mills, Managing Director of Servelec Controls commented; “We are in a fairly unique position, active in growing niche markets where operational excellence and enhanced safety is imperative. We are excited to be in control of delivering exactly what our business and customers need. This development will enable us to ensure that all our systems and processes are aligned to the industries in which we operate and we are confident that this new chapter in the company’s development will be beneficial to both our customers and staff, allowing us to deliver on our ambitions.”
The last twenty-four months have seen solid trading for Servelec Controls and since assuming the role of Managing Director in 2016, Andrew has overseen an increase in customer satisfaction, profitability and market positioning, leading the company to achieving three national awards. This provides a strong foundation on which to now build the standalone business. In addition to organic growth, it is anticipated that Servelec Controls will also grow further through acquisition in adjacent and complementary markets.
The Controls management team was advised on the transaction by Park Place Corporate Finance.