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Infrastructure investment firm acquires Bristol M&E specialist

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Infrastructure investment business RDCP Infrastructure has bought a Bristol-based M&E firm for an undisclosed sum.

The acquisition will see RDCP take a 90% stake in Avon Combined Electrical Services (ACES), which boasts leading contractors including Morgan Sindall, Kier, BAM, ISG and Sir Robert McAlpine as recent clients.

ACES managing director Stephen Sage will remain in his current role and work with RDCP on a strategy for growth.

Sameer Rizvi, founder and chief executive of RDCP Group, said: “The acquisition of ACES brings a high quality, growth-focused construction business to RDCP Infrastructure. It is a well established and highly respected business with a strong management team.”

The Bristol firm has been trading for more than 30 years, and currently has earnings before interest, taxes, depreciation and amortisation of £1.5m a year, according to a statement from the parties.

Sage said the deal would allow for staff at his firm to “expand their own personal aspirations”.

He added: “Joining RDCP is the next step in the evolution of ACES into a stronger regional M&E engineering business. Sameer and his team will enhance the professional service already offered by ACES and open new opportunities for growth and expansion.”

ACES will join five other construction sector firms owned by RDCP Infrastructure: civil engineering firms Killingley and Buxton Water, mechanical engineering and FM company Macair, precast concrete specialist Su-Fix Precast and engineering and manufacturing firm Woodford Engineering.

RDCP Infrastructure is the construction arm of investment firm RDCP Group which controls £370m of investments in the UK.

Last month, CN’s 2022 Specialists Index reported that the average margin in the M&E sector has improved slightly over last year, but is still among the smallest of the seven specialist categories.

Source : ConstructionNews

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