Warburg Pincus invests alongside Macquarie Capital Principal Finance supporting further growth in Premier Technical Services Group
Leading global growth investor, Warburg Pincus, announced today that it has entered an agreement with Macquarie Capital Principal Finance (“Macquarie Capital”) to jointly acquire a majority stake in Premier Technical Services Group Ltd ("PTSG"), a leader in building compliance services in the United Kingdom (“UK”) – signalling the next phase of the company’s development.
The new investment from Warburg Pincus marks a significant milestone for PTSG as it enters its next phase of growth, allowing the company to focus on continued innovation and key growth initiatives, while continuing to offer strong customer service. PTSG is a leading provider of specialist building compliance services, including fire and electrical compliance services, fall protection and façade access services. Headquartered in West Yorkshire, England, PTSG employs around 1,400 people across 37 UK sites, servicing more than 180,000 buildings in the UK, across a wide range of industries.
The partnership between Warburg Pincus and Macquarie Capital will support PTSG’s development, providing the firm with additional resources and funding to accelerate its strong organic growth and consolidation strategy – with the goal of occupying a greater share of the UK’s compliance services market.
“We have been impressed by PTSG’s tremendous track record of growth and with their best-in-class operating model while keeping its customers at the centre of its strategy."
- David Reis
Managing Director, Warburg Pincus
Macquarie Capital acquired a majority stake in PTSG in 2019 in a take-private transaction. Since then, PTSG has benefitted from access to Macquarie Capital's flexible balance sheet funding, which has allowed the company to continue with its ambitious growth strategy, driven by its founding management team.
Paul Teasdale, CEO of PTSG said: “We are delighted to have secured this new investment from Warburg Pincus and to have the continued support of our existing partner Macquarie Capital in our next stage of growth. Together we will continue to cement our position as a leading provider in the compliance services market and continue to consolidate the sector. We also would like to thank Macquarie Capital for their ongoing guidance and contribution – which sees them re-investing in the business to help us reach our full potential.”
Adarsh Sarma, Managing Director, Co-Head of Europe at Warburg Pincus said: “We look forward to partnering with Paul and Roger Teasdale and the PTSG management team, alongside Macquarie to expand their suite of solutions and capture untapped growth opportunities in the market." David Reis, Managing Director at Warburg Pincus added: “Compliance services is a critically important sector and we anticipate the need for such services will continue to grow as regulatory requirements increase. We have been impressed by PTSG’s tremendous track record of growth and with their best-in-class operating model while keeping its customers at the centre of its strategy."
Adam Joseph, Head of Private Equity for Macquarie Capital Principal Finance Europe, said: “We are proud of the growth that PTSG has achieved since we began working together and believe there is more to come. I would like to congratulate the entire PTSG team for the fantastic performance they have delivered; we are delighted to continue supporting the company’s ongoing success story and look forward to working with our new partners.”
The transaction remains subject to the approval of antitrust authorities and the financial terms are undisclosed.
About Premier Technical Services Group
PTSG is the UK’s leading provider of niche specialist services to the construction and FM sectors. It operates four discrete but complementary divisions: Access & Safety, Electrical Services (including Britain’s biggest lightning protection business), Building Access Specialists and Fire Solutions. Service areas work independently or collaboratively to meet organisations’ complete requirements, providing streamlined and cost-effective solutions. With 37 service centres, PTSG delivers safely and reliably for more than 20,000 customers nationwide and overseas seven days a week. The company’s highly trained and specialist engineers can be mobilised to virtually any job at a moment’s notice.
About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $60 billion in private equity assets under management. The firm’s active portfolio of more than 200 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested more than $90 billion in over 930 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com
About Macquarie Group
Macquarie Group Limited (Macquarie) is a diversified financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity, and commodities. Founded in 1969, Macquarie employs 16,459 people in 32 markets. Macquarie has £310.9 billion in assets under management at 31 March 2021. For further information, visit www.macquarie.com
About Macquarie Capital Principal Finance
Macquarie Capital is the advisory, capital markets and principal investment arm of Macquarie Group. Macquarie Capital Principal Finance, the principal investment business, provides flexible financing and secondary market investing solutions for corporate and commercial real estate clients across North America, Europe, and Australasia. Since 2009 Macquarie Capital’s Principal Finance team has provided financing and investment capital on a flexible and bespoke basis for over 700 companies, deploying over £26 billion globally. Recognising that every client is different, Macquarie Capital Principal Finance expertise goes beyond traditional financing to adapt solutions to meet individual client needs.