BGEN, formerly Boulting, specialises in mechanical, electrical, instrumentation, control and automation (MEICA) services. It is active in regulated end markets including power & energy, water, pharmaceutical and industrial sectors.
Its clients include National Grid, Thames Water, Scottish Water, and Anglian Water, which also have long-term partnerships with M Group Services.
The acquisition widens the capabilities currently offered by M Group Services, whose core is as a civil engineering contractor for public utilities.
Based in Warrington, BGEN turned over £226m in the year to April 2024 and made a pre-tax profit of £15m. Its turnover has doubled in the past four years. It changed its name from Boulting in 2021.
BGEN operates 14 locations across the Uk and has nearly 1,500 employees.
The terms of the transaction were not disclosed.
M Group Services chief executive Andrew Findlay said: “BGEN is a business with a long trading heritage and an excellent reputation and culture that aligns with our own.
“In line with our strategy, the acquisition of BGEN significantly enhances the technical engineering capability of M Group Services, significantly deepening our ability to provide expert solutions for our existing clients and broad range of new clients, for today and in the future.
“Together we are even better placed to support the energy transition to net zero, leading the way in maintaining and enhancing essential infrastructure that is continually adapting to a rapidly changing world.”
BGEN chief executive Robin Whitehead said: “Joining M Group Services represents the most significant step in our trading history to date and an exciting opportunity for our people, clients and partners alike.
“Our focus remains on bringing excellence to engineering, helping to keep businesses, industries and economies moving forward with a safety-first approach.
“Our joint expertise will provide a wealth of specialist engineering services across multiple sectors, help us to deliver even more effectively for our clients and achieve our own growth ambitions.”
M Group Services was previously Morrison Utility Services, owned by part of Anglian Water before its private equity buyout in 2008. It has had several different private equity owners since then and made regular acquisitions, including Dyer & Butler in 2016 and Skanska’s UK infrastructure business in 2020.
M Group Services was acquired by CVC Capital Partners in June this year. [See previous report here.]
BGEN, as Boulting, was owned by East Midlands Electricity until a management buyout in 1994.
Dominic Murphy, managing partner and co-head of the UK team at CVC said: “We are delighted the M Group Services team has secured this transformational deal with BGEN as part of its ambitious growth strategy. It is the first since CVC completed the transaction to buy M Group Services, earlier this year.”
