PMP provides utility companies with mechanical engineering support, asset surveys and pipeline leakage repair, specialising in difficult, confined or high locations with techniques including rope access and no-dig repairs.
PMP Utilities is M Group鈥檚 fifth acquisition in 15 months. It all started in November 2016 when private equity investment firm First Reserve bought Morrison Utility Services. A month later it took over Dyer & Butler. Meter-U, a meter reading firm, and Magdalene, a telecoms infrastructure specialist were added in the months that followed. It is now a 拢1bn turnover group.
鈥淢 Group Services is focused on achieving profitable growth both organically and through acquisitions that broaden our scope of expertise,鈥� said chief executive Jim Arnold. 鈥淭he acquisition of PMP fits with that acquisition strategy perfectly. Its specialist services and expertise will enable M Group Services businesses to offer enhanced capabilities to their respective clients.鈥�
PMP managing director Stephen Taylor said: 鈥淥ur acquisition by M Group Services signals the next exciting phase of our continuing growth. We are now ideally positioned to benefit from the diverse range of new opportunities that becoming part of a broader infrastructure service provider group will bring and we look forward to working alongside the other M Group Services businesses.鈥�
Financial details of the transaction were not disclosed.
Got a story? Email news@theconstructionindex.co.uk
