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Rockpool-backed technical services business Mecsia Group has broadened its reach into the healthcare and education sectors with the acquisition of Artic Building Services.
PKF Francis Clark provided a full suite of buyside support services to Rockpool and Mecsia, covering financial and tax due diligence, as well as modelling and a tax structuring review.
Mecsia provides regulated mechanical and electrical maintenance, testing and compliance services to the UK commercial property market. Artic offers core mechanical and electrical maintenance services, primarily to the healthcare, education and commercial property markets.
The acquisition was supported by additional equity funding from Rockpool and senior loan funding from Virgin Money. Tom Coey and Simon Collins led the deal for Rockpool Investments, a private equity firm which provides equity and loan financing of between £5 million and £15 million to profitable UK-based companies and has invested more than £650 million since inception in 2012.
We valued PKF’s commercial input and clear recommendations in what was a thorough and efficient diligence exercise.
Tom Coey, investment director at Rockpool, said: “It was a pleasure to work with the highly professional team at PKF on another due diligence engagement. The acquisition of Artic is a key strategic step on Mecsia’s journey to become the UK’s leading technical services business. We valued PKF’s commercial input and clear recommendations in what was a thorough and efficient diligence exercise.”
Sam Phillips, partner and head of transaction services at PKF Francis Clark, added: “Having worked with the team at Rockpool on previous transactions, we were delighted to build on our existing relationship by supporting with this exciting acquisition for Mecsia. Our tax and corporate finance colleagues worked seamlessly together to deliver a comprehensive suite of buyside support, which enabled the deal to progress to completion in a timely manner. We wish Rockpool and Mecsia every success and hope to be able to assist again in future as they continue to pursue a healthy pipeline of strategic acquisition opportunities.”
Read about more deals supported by PKF Francis Clark.